Edward Glazer has put up a significant portion of his shares in Manchester United up for sale.
Edward Glazer, one of Malcolm Glazer's six children, has put three million shares in Manchester United up for sale, little more than six months after his father's death, and stands to recoup in the region of 45million US dollars (£28.7million).
A statement released by the Barclays Premier League club and the New York Stock Exchange - where 10 per cent of United's shares are listed - announced the offer of "Class A Ordinary Shares".
The statement read: "Manchester United plc today announced the offering of 3,000,000 of its Class A Ordinary Shares by the Edward S. Glazer Irrevocable Exempt Trust (the 'Selling Shareholder').
"The underwriter will have an option to purchase up to an additional 450,000 Class A Ordinary Shares from the Selling Shareholder.
"Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder. The offering is expected to close on December 12, 2014, subject to customary closing conditions."
