Manchester United owners seek to raise $400M from new share issue

Manchester United is trying to raise another $400 million by selling new shares in the club.

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MANCHESTER, England —

Manchester United is trying to raise another $400 million by selling new shares in the Premier League club.

The club, which has been listed on the New York Stock Exchange for three years, announced in a filing to the U.S. Securities and Exchange Commission that it is making 24 million ”Class A” shares available.

The club is still controlled by the American Glazer family through their ownership of privately held ”Class B” shares that carry 10 times the voting power of the stock sold to the public.