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Sell your shares! Manchester United’s billionaire American owners the Glazers face demands to cut their stake in the club to below 50%, from two City figures who tried to oust them a decade ago, amid fan anger over the European Super League
- Two business chiefs want the Glazer family to surrender their grip on Man United
- The Red Knights – who tried to oust them a decade ago – have called for reforms
- United fans are livid with the Glazers for their role in the European Super League
- Red Knights want the Glazers to cut their stake in the club to below 50 per cent
Two business chiefs who tried to rid Manchester United of the Glazer family over a decade ago have demanded the Americans reduce their stake in the club to below 50 per cent.
Lord O’Neill – who was behind the Red Knights campaign in 2020 – and hedge fund manager Sir Paul Marshall have written a letter to United co-chairman Joel Glazer demanding huge reforms in the wake of the European Super League scandal.
United and the rest of the Premier League‘s ‘Big Six’ all signed up to the doomed breakaway competition that was announced last week but collapsed 48 hours later amid furious backlash from players, managers, fans and government.
Manchester United fans are furious with the Glazer family for their role in placing the club in the now doomed European Super League
Two business chiefs have demanded the Glazer family reduce their stake in Manchester United to below 50 per cent
Lord O’Neill (pictured) and hedge fund manager Sir Paul Marshall have written a letter to United co-chairman Joel Glazer
According to a letter seen by Sky News, Lord O’Neill and Marshall have demanded the Glazers reduce their combined stake from around 75 per cent to a maximum of 49.9 per cent.
It is part of sweeping reforms that they have called for as anger towards the club’s American owners continues to engulf Manchester United.
They also want them to ‘announce to the New York Stock exchange, that you are converting all the equity ownership in Manchester United PLC into one class of shares, each with the same voting rights.’
The letter added: ‘This one share-one vote policy, in itself would encourage a broader group of investors to consider ownership in the club in the future if they have the same voting rights as everyone else, especially you and your five siblings’.
In 2010, Lord O’Neill and Marshall were behind a Red Knights consortium who attempted to garner enough support to launch a £1.25billion takeover of the club.
Sources close to the pair told Sky News that their joint letter ‘did not amount to the formal resurrection of the Red Knights’ but put their campaign for change at the club ‘back on track’.
More to follow.
Manchester United manager Ole Gunnar Solskjaer pictured alongside the Glazers in 2019
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