A stake in the Premier League giant Manchester United could soon change hands after a mystery Chinese buyer expressed an interest in buying out some of the club’s shareholders.
Negotiators claiming to act for a billionaire Asian investor have contacted some of United’s independent shareholders in recent weeks over a possible deal to buy a holding in the football club.
The inquiries come amid persistent rumours that some members of the Glazer family are ready to sell a bigger chunk of United to investors, following a stock market listing in 2012 and a second share sale in 2014.
The Glazers control about 80% of the economic interests in the club. The rest is held by investment funds in New York and London.
Sources close to the family claim there is no prospect of the club being sold in its entirety because an influential faction of the Glazer clan, including the co-chairmen Avram and Joel Glazer, consider it a valuable trophy asset.
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Of the six Glazer children, three are said to be interested in a sale. One City source claims that a sizeable block of shares — about 8% of the club — was being offered for sale last week by an American broker. The underlying owner of the stake was unclear.
Malcolm Glazer, an American property tycoon, bought United for £790m in 2005 in a debt-fuelled deal that raised concern among the club’s fans. After his death in 2014, aged 85, ownership passed to his children.
Off the pitch United has been a huge commercial success but this has not been reflected in its shares.