Kieran Maguire: £117m deal has just been completed from the ‘shadows’ at Man United
Little will change in the way Man United is run despite Kevin and Edward Glazers’ recent £117million share sale.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest stock market developments at Old Trafford.
As reported by Manchester Evening News on 19 October, United have ratified the sale with the Securities and Exchange Commission.
Joel and Avram are the most active in the day-to-day running of United out of the six members of the Glazer family.
The family own the vast majority of the club’s B shares, which carry greater voting privileges than the equity floated on the stock exchange.
They will therefore surrender very little control as shares are sold off.
Maguire explained the dynamics of the Glazer family and how the power behind the throne is concentrated.
“This won’t make a huge difference in the running of the club,” he told Football Insider correspondent Adam Williams.
“The siblings have this arrangement that Kevin, Edward and the others are silent partners.
“They effectively delegate the responsibility of making decisions to Avram and Joel. They are very much doing this business from in the shadows.
“So whether they sold the shares or not, the same decision would be made. Their knowledge of football is the equivalent of mine of Serbo-Croat.
“They assume that the others are capable of making the right decision and just let them get on with it.
“Even Avram doesn’t do a huge amount. It is very much the Joel show at Man United.”
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