André Zahn
Manchester United fans will be able to buy shares in the football club with the same voting rights as its majority owners. This is stated in a statement from the management of the United.
According to the statement, the club will create a new class of securities with the same voting rights as the Glazer family, who have owned Manchester United since 2005. In addition, the club will create a new fan advisory board to give fans more influence over its operations.
There are now two types of shares in Manchester United: the Glazers own Class B shares, each giving 10 votes, and outside investors own Class A shares, giving one vote each, the Financial Times writes. The changes are needed to "appease the anger" of football fans following the club's attempt to join the European Super League, an alternative to the Champions League, the FT notes. The idea of creating a closed tournament for selected teams has angered fans. In May, several Manchester United fans stormed Old Trafford in protest and disrupted the club's home game against Liverpool.
The ability to buy voting shares in the club was a key demand of the Manchester United Supporters Trust, Manchester United's leading supporters' group. The move is seen by the organisation as the start of a wider transformation that could eventually lead to the departure of the Glazers. Tensions between the owners and MU fans have lasted since 2005, when thousands of fans were forced to sell the Glazers their shares in the club as part of a compulsory buyout, says the FT.
source: ft.com
According to the statement, the club will create a new class of securities with the same voting rights as the Glazer family, who have owned Manchester United since 2005. In addition, the club will create a new fan advisory board to give fans more influence over its operations.
There are now two types of shares in Manchester United: the Glazers own Class B shares, each giving 10 votes, and outside investors own Class A shares, giving one vote each, the Financial Times writes. The changes are needed to "appease the anger" of football fans following the club's attempt to join the European Super League, an alternative to the Champions League, the FT notes. The idea of creating a closed tournament for selected teams has angered fans. In May, several Manchester United fans stormed Old Trafford in protest and disrupted the club's home game against Liverpool.
The ability to buy voting shares in the club was a key demand of the Manchester United Supporters Trust, Manchester United's leading supporters' group. The move is seen by the organisation as the start of a wider transformation that could eventually lead to the departure of the Glazers. Tensions between the owners and MU fans have lasted since 2005, when thousands of fans were forced to sell the Glazers their shares in the club as part of a compulsory buyout, says the FT.
source: ft.com
