Cristiano Ronaldo has aided Manchester United's (MANU.N) stock price more than its on-field performance thus far. Since the Portuguese striker signed in late August, the $3 billion club's share worth has increased by 12%, despite the fact that the team has only won three of its last seven games. The controlling Glazer family, whose two members are selling $186 million worth of stock, is well aware of this.
The sale is unlikely to satisfy fans, who want the club to have more free float so that fans may have a greater say. Instead, the clan will keep a strong grip on the company: its overall ownership would drop to 69 percent from 74.9 percent, and it will retain nearly all voting rights through special Class B stock. The Glazers appear to be only removing a few chips off the table. According to Refinitiv data, Manchester United's share price has returned to pre-pandemic levels, although revenue will not entirely recover until 2023. The Glazer stock sale appears to be perfectly timed.
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