Manchester United’s American owners are set to raise around $150 million by selling more of their shares in the club on the New York Stock Exchange.
The English Premier League club announced Wednesday that the Glazer family is selling 8 million shares with reduced voting rights, which equates to around 5 percent of the business. The Glazers, who maintain control of the club, previously sold 10 percent of their holding via a stock listing in 2012.
The latest share sale was announced on a day when United shares closed at $19.31, with the Glazers cashing in at a time of renewed confidence at the club.
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It also comes two months after Malcolm Glazer, who led the family takeover of United in 2005, died. His six grown children control the club.