Glazers May Sell 25% Of Manchester United To Help Slash Debt

The Glazers are “preparing to sell up to a quarter” of EPL club Manchester United “in a move that could raise” more than $655M (all figures U.S.), according to Simon Mullock of the London DAILY MIRROR. That would enable the Glazers to cut the $819M “debts that are currently costing” ManU approximately $73M annually to service. The Glazers "would then be able to pay themselves -- and other new investors -- millions in dividends every year." UBS is "advising on the sale," through which the Glazers are "looking to cash in on between 15% and 25% of United." A source said, "The belief is that the Glazers are trying to clear as much of the United debt as possible but still retain at least 75% of the club and therefore stay in full control. It’s a smart move. It’s a win-win situation for them because it also enables them to put a stop to the criticism that United is a Glazers’ closed shop" (London DAILY MIRROR, 8/7). The club is "keeping silent" on the speculation (MANCHESTER EVENING NEWS, 8/8).