Glazer family to net €112m by selling part of stake in Man Utd

The Glazer family will make around $150m (€112m) by selling part of its stake in Manchester United although the deal will leave the Americans firmly in control of the English soccer club.

The Glazers, who bought United for £790m in 2005, are selling eight million shares in the club, which amounts to a stake of about 5%. Once the shares are sold, the six children of the late Malcolm Glazer will still own more than 80% of the club’s total shareholding.

None of the proceeds will go to the club itself, a fact that is likely to annoy some fans who have long campaigned against owners they accuse of burdening United with excess levels of debt following their takeover.