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Manchester United owners to 'raise £87m in shares sale'

The owners of Manchester United are to sell a percentage of their shares, which is expected to raise around £87m in funding for the club.

Manchester United's owners are expected to raise around £87m by selling their shares in the club on the New York Stock Exchange.

The Glazer family, who will maintain control of the Red Devils, are to sell eight million shares - five per cent of the business - with reduced voting rights.

Malcolm Glazer, the man who led the takeover of the Old Trafford outfit, passed away in May leaving his six grown children in control of the club.

United signed a 10-year kit deal earlier this month with sportswear manufacturer Adidas, which is worth around £750m from 2015.

The American owners previously sold 10% of their holding via a stock listing in 2012.

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Tampa Bay Buccaneers owner Malcolm Glazer is on the sidelines before play against the Buffalo Bills September 18, 2005
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