Finance Notes: Glazer Family To Sell Less Than 2% Of Shares In ManU
ManU's American owner the Glazer family is set to earn about $72.9M by selling more of its shares in the club on the New York Stock Exchange. The sale, which equates to around 2% of the club's shares, "is expected to conclude" on Tuesday. It will take the ratio of shares, which have limited voting rights, floated on the U.S. Stock Market to just above 20%. ManU "will not receive any proceeds from the sale" (BBC, 8/9).
Super League rugby club Warrington Wolves recorded a loss of more than £250,000 for the '16 season. In accounts registered by Warrington Sports Holdings Ltd., the club reportedly posted pre-tax losses of £262,708. It is the first time since the '11 season that the club made a pre-tax loss. Turnover increased from £6.7M to £7.2M year-on-year, with merchandise sales boosted to £785,062 from £519,684 in '15 (RUNNING RUGBY, 8/9).