- Glazers put up for sale Tuesday night 9.5m Manchester United
- New York Stock Exchange shares are worth £137million. has been fixed
- United’s stock price has risen by £1.65 since Cristiano Ronaldo’s return
- This means Glazers shares are worth £15.7m since the 27 August transfer
The return of Cristiano Ronaldo to the club resulted in £15.7m more than the 9.5 million Manchester United shares held by the Glazer family on the New York Stock Exchange.
The Glazers, who own the Premier League club, put up for sale shares worth £137m on Tuesday night in the name of club directors Kevin Glazer and Edward Glazer.
A Red Devils statement said the club would ‘receive no proceeds from the sale’ but that United’s share price had risen by £1.65 since the announcement of Ronaldo’s return to the club on 27 August, meaning That Glazers is following the Portuguese icon financially. Back to Old Trafford.
The 9.5 million Manchester United shares held on Tuesday were worth £15m more due to the return of Cristiano Ronaldo (above) to the club
The Glazers (pictured are directors Avram, left and Joel) hold 9.5 million shares in Manchester United on the New York Stock Exchange
Prior to the announcement of Ronaldo’s return, United’s share price was $17.38 (£12.82), and that figure rose to $19.62 (£14.47) when the Glazers’ share sale was made public this week.
Ronaldo, known as one of the greatest players in United’s history, returned to Old Trafford 12 years after departing for Real Madrid for a then-world record £80m fee, with the Red Devils tendering a transfer to his former club. Paid just £20m to Juventus. .
The 36-year-old was brought back to help United challenge for the Premier League and Champions League titles and even took a £385,000-a-week pay cut to move to Old Trafford.
On the pitch, Ronaldo has scored five times in six games since stepping down at the end of August, but the way he has helped the club grow in such a short period of time will be equally helpful to the Glazers.
Ronaldo sealed his return to Old Trafford on 27 August, which has since seen United’s share price rise by £1.65 (Picture: United fans wearing Ronaldo shirts)
Ronaldo is not United’s only high-profile signing over the summer, with the Red Devils making a combined total of £135.3m in the summer transfer window, with Ronaldo also including £73m Jadon Sancho and £40m Rafael Varane.
United supporters have endured a turbulent relationship with the Glazers since the club’s 2005 takeover, with the formation of the European Super League having peaked five months earlier.
Co-president Joel Glazer was at the center of a disastrous plot to shake up the football landscape, prompting an overwhelming backlash from fans, former players and Prime Minister Boris Johnson.
The Red Devils Premier League game against arch-rivals Liverpool was postponed last April due to protests from fans, with many supporters breaking into the back-door fixture at Old Trafford before the fixture.
The Glazers have long been unpopular with United supporters and angered April
Last March, Avram Glazer sold shares in the club worth £70m. On that occasion, United did not receive a dime from the sale. This latest sale of shares represents eight percent of the family’s total joint ownership of the club.
Despite holding another large number of shares in the market – which is valued at around £14.43 per share – the Glazers still maintain a combined 69 percent of shares in United and BBC Reports that unpopular Americans are committed to the Red Devils.
Due to the large volume of shares sold, it is believed that Glazers will not pocket the stock market’s value of £137.12m for 9.5m shares and expect a lower total.