By Kieran Maguire

3rd Dec, 2021 | 3:00pm

Kieran Maguire reveals 'real reason' for £70m Man United deal

The “real reason” Avram Glazer sold £70milllion worth of Man United shares last March (2021) was to expand his sports portfolio.

So says finance guru Kieran Maguire, speaking exclusively to Football Insider about Glazers’ deal to buy a United Arab Emirates T20 cricket team.

BBC Sport reported on Wednesday (1 November) that the United co-owner has bought a franchise in the inaugural UAE Twenty20 league.

The deal is understood to have been completed through Glazers’ private equity firm Lancer Capital and does not come under the United umbrella.

Glazer sold 5m shares in United at a value of £70m in March (2021), as reported by The Guardian.

And Maguire claims that his purchase of a T20 franchise explains his motives behind the big-money sale earlier this year.

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“This is a franchise fee that Avram Glazer has paid to the T20 league,” he told Football Insider correspondent Adam Williams.

“If people were wondering why he sold shares in Man United earlier this year, this is the real reason.

“He is broadening his sport portfolio and because it is a franchise fee, this money will go to the central organisations.

“This is indicative that investors see sport as business rather than as a sport in and of itself. T20 sells well in terms of broadcasting.”

United have offered £10m worth of shares to fans as part of an attempt to implement a more democratic system of governance at Old Trafford.

They also announced the makeup of their new fan advisory board on Wednesday (1 November).

In other news, pundit tells Ralf Rangnick to rectify “ridiculous” Man United move and recall “world-class” Edinson Cavani.