Glazers to raise £88.7m in Manchester United share sale

Joel Glazer, left, Bryan Glazer, center, and Tampa Bay Buccaneers team owner and president Malcolm Glazer Image copyright AP
Image caption Malcolm Glazer (right) with his sons Joel and Bryan.

Manchester United's US owners are set to pocket about $150m (£88.7m) by selling more of their shares in the club on the New York Stock Exchange.

The club said the Glazer family is selling eight million shares, or about 5% of the business.

The Glazers, who will keep control of the club, previously sold 10% of their holding via a stock listing in 2012.

The deal comes two months after Malcolm Glazer died. His six grown children control the club.

The latest share sale was announced on a day when United shares closed at $19.31 apiece.

The Glazers bought United for £790 million ($1.34bn) in 2005.

Once the shares are sold, the six children of the late Mr Glazer will still own more than 80% of the club's total shareholding.

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