Lord and Sir (& Man Utd fans) write to Glazer about fixing ownership make-up | OneFootball

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·23 April 2021

Lord and Sir (& Man Utd fans) write to Glazer about fixing ownership make-up

Article image:Lord and Sir (& Man Utd fans) write to Glazer about fixing ownership make-up

Major financial king pins - and Manchester United fans - have penned a letter to Joel Glazer about the ownership of the club.

At the end of a turbulent week, Lord O'Neill, one of the key figures in the Red Knights group that tried to get control of United from the Glazer family in 2010, and leading hedge fund manager Sir Paul Marshall have written a letter to United co-chairman Joel Glazer.


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The letter, seen by BBC Sport, outlines six key demands.

These include getting rid of the current A and B class share structure, under which the Glazer family are guaranteed complete control over key decisions.

In addition, O'Neill and Marshall say the American family, whose father Malcolm controversially completed a leveraged buy-out of United in 2005, should reduce their share ownership to a maximum of 49.9%, with the remaining shares being sold at a discount as a sign of good faith.

“In your letter, you talk about rebuilding trust with the supporters, which presumes there was trust in existence before the events of last week," said O'Neill and Marshall.

“As you know, others might question whether that trust was ever present.

“If your stated desire to rebuild trust is sincere, these proposals are the minimum steps you should choose to make."

Last month, United co-chairman Avram Glazer sold 5m shares, raising around $100m (£86.8m). This deal reduced the family's total ownership to 74.9%.

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