Glazer Is Ready To Sell MU Shares Worth IDR 2.6 Trillion, But The Club Won't Be Receiving A Penny

Illustrations of Manchester United legends (Twitter @ManUtd)

JAKARTA - The owner of the club Manchester United is reportedly ready to sell 9.5 million shares of the club for a value of 137.12 million pounds (around IDR 2.6 trillion), according to a report from the Manchester Evening News (MEN) on Wednesday.

Citing Antara, United notified the New York Stock Exchange of the sale on Tuesday evening (local time), on behalf of club directors Kevin Glazer and Edward Glazer.

The statement made it clear that the club "will not receive a penny from the sale of the shares."

The news of the sale comes five months after United's Premier League match between United and Liverpool was postponed due to fan protests.

This sale is also in the aftermath of the collapse of the European Super League project, which is known that one of MU officials Joel Glazer was very involved in negotiations for the formation of the project.

In March, Avram Glazer had sold an 8 percent stake in Manchester United for £70 million.

Currently, the Glazer family still owns a total of 69 percent stake in United.

It is almost certain that these shares will be sold at a price lower than the market value of the shares because many have been sold.

In the aftermath of the fans' protests, Joel Glazer has twice attended the Fan Forum and promised that United's stock would be available to fans.