Irish duo set to sell United stake - report

Racehorse owners John Magnier and J P McManus are this morning reported to be preparing to sell their stake in Manchester United.

The 10.37% stake, held through their Cubic Expression investment arm, is valued at nearly £40m (€58m).

The Times reports that potential bidders have been sounded out and that the pair were disappointed when United paid £30m (€43m) for Leeds defender Rio Ferdinand.

Transfer fees have fallen dramatically since the Ferdinand purchase.

The newspaper reports that there could be a buyer for the stake though they doubt whether a City institution would bid.

United shares closed at 145 3/4 last night.