Joel Glazer gives key shares in 1st assembly with Manchester United followers

Manchester United co-owner Joel Glazer supplied to make shares out there to supporters with the identical voting rights as shares held by his household, marking an try to heal the rift that deepened after failing to interact with followers earlier than being a part of the ill-fated try to launch a European Super League.
Talks on Friday marked the primary engagement by the Glazers with followers since shopping for United in a leveraged takeover in 2005 that loaded debt onto the membership and sparked years of protests. The dissent reached unprecedented ranges final month when unrest round and inside Old Trafford led to United’s recreation in opposition to Liverpool being postponed, resulting in the proudly owning household’s pledge to attend a digital followers’ discussion board.
United, which is managed by the Glazer household, is listed on the New York Stock Exchange and its market capitalization is greater than $2.5 billion.
“Fans are the lifeblood of Manchester United and I am personally committed to ensuring that they are given an enhanced voice,” Joel Glazer mentioned in a press release launched by United after the discussion board.
United plans an advisory board to seek the advice of with the membership’s senior management and homeowners that will likely be made up of fan representatives.
“The club has been in discussions with (the Manchester United Supporters’ Trust) regarding a fan share scheme for a number of months and has already sought external legal advice on options,” Glazer mentioned.
Manchester United followers protest in opposition to homeowners after failed launch of a European Super League – Old Trafford, Manchester, Britain – April 24, 2021. (Reuters/FILE)
“Discussions will now intensify, with the aim of agreeing a plan before the start of the new season.”
MUST described the share scheme as a doubtlessly revolutionary thought, however cautioned that the satan is all the time within the element about providing shares with voting rights.
“Despite Joel Glazer’s assertion that this will be the largest fan ownership group in world sport’, MUST is concerned that there is a risk that the scheme will limit the number of such fan shares made available so reducing the opportunity for this to achieve a meaningful collective fan ownership stake and ultimately with the potential to result in a change in control of the club,” MUST mentioned.
Glazer, who has declined to provide media interviews, instructed followers that funding in redeveloping Old Trafford can be accelerated and spending would proceed on the staff, which has not gained the Premier League since 2013 or any trophy since 2017.
United was among the many six Premier League golf equipment which joined up with six groups from Italy and Spain in making an attempt to launch a largely closed competitors to separate from the present Champions League construction.
The English golf equipment backed out inside 48 hours after a backlash from the followers and British authorities however nonetheless confronted punishments from UEFA. Along with Atletico Madrid, AC Milan and Inter Milan, they signed as much as a settlement with UEFA to take part solely within the current open European competitions and accepted giving up 5% of income for one season enjoying in Europe.