Manchester United owners bid to raise £320m with sale of 24m shares

The Glazer family are seeking to raise £320million ($400m) with the sale of new shares in Manchester United PLC. Executive vice-chairman Ed Woodward faced investors to discuss the club’s financial situation, with record revenues revealed to the tune of £627.1million. "Everyone at Manchester United is committed to delivering on our primary objective of winning trophies,” stated Woodward. However, within hours, a newly-filed prospectus with the United States Securities and Exchange Commission had the club’s owners proposing the sale of 24million Class A shares. Within the document, signed by both Joel Glazer and Woodward, the proposed maximum offering price per share is $17.64 (£14.12) for the shares, which come with restricted voting rights. Those shares would be seeking to raise £320million. It is not the first time the Glazer siblings have made extra shares available since the club began trading on the New York Stock Exchange back in 2012.

Michael Owen makes Manchester United vs Rochdale and MK Dons vs Liverpool predictions