Premier League: Manchester United Owners Set to Sell Shares via US Stock Exchange

By @IBTimesAU_Sport on
New Manchester United manager Louis Van Gaal (L) poses for pictures with club director Bobby Charlton during a news conference at the club's Old Trafford Stadium in Manchester, northern England, July 17, 2014.
New Manchester United manager Louis Van Gaal (L) poses for pictures with club director Bobby Charlton during a news conference at the club's Old Trafford Stadium in Manchester, northern England, July 17, 2014. REUTERS/Nigel Roddis

The Glazer family, majority owners of Manchester United, are set to sell about 5% of their shares to the public via the New York Stock Exchange.

A reported 8 million shares of stock with a par value of $19.31, or about $154million (£91million), as of Wednesday's valuation, was listed for public sale.

The American owners, who bought the Club in 2005 for £790million, still own 90% of the corporation's total shares, after selling 10% in 2012.

United's rise in stock value, from $14, is perceived to be the result of sponsorship deals from Adidas - £750million over 10 years - and US car manufacturer General Motors - $559million over 7 years. 

While the recent appointment of Louis van Gaal as manager has undeniably caused a boost in morale at the Old Trafford after finishing seventh during the 2013/14 season under predecessor David Moyes.

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