Kieran Maguire tips Man United boardroom power shift after ‘critical’ update
Man United supporters could be given boardroom powers via the creation of a new class of shares.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the progression of the Red Devils’ fan share scheme.
The Glazers promised better representation at board level in the aftermath of the failed Super League plot in April last year.
But there has been no update on the fan share scheme which was tabled at the time, with negotiations over the structure having stalled.
Per The Athletic on Thursday (24 March), The Man United Supporters Trust claimed that they have not yet received a suitable offer from the board.
Maguire predicted the next steps for the share scheme and what powers fans might have under the new framework.
“United have something like 163million shares,” he told Football Insider‘s Adam Williams.
“For supporters to have a say in that, they have to have a level of shareholding that allows them some form of leverage. That’s critical.
“The Glazers have all the B shares, which are the shares with significant voting rights.
“From the fans’ perspective, it could be a new class of shares that gives them the power of veto.
“That is the idea of a golden share, which means you have a say over things like changing the badge, stadium or league.
“It’s unfair on investing shareholders to see their shareholding diluted.
“But there is nothing to stop United from changing its constitution to include a separate classification of shares that are owned by the Supporters’ Trust.
“That would give them either a seat on a shadow board or some sort of guarantee on critical decisions that impact the future of the club.
United created a fan advisory board in the aftermath of the Super League.
But the arrangement is essentially on a consultancy basis and carries no real constitutional power.
In other news, Marcus Rashford tells friends he wants to quit Man United.