Man United takeover: Keith Wyness reveals truth on new US investment
Everton’s former chief Keith Wyness has claimed the Man United share purchase from Ariel Investments is nothing more than a “stock market play”.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – claimed the new investment is “of no real significance”.
A filing to the US Securities and Exchange Commission (SEC) on 12 August revealed Ariel Investments has bought three million shares in United since the end of March.
The US company now holds 8.3 million shares of those listed on the New York Stock Exchange, making it the largest institutional shareholder of the club’s publicly listed traded stock.
Around 22.5% of the club is publicly owned but the vast majority of voting rights lie with the Glazer Family and Sir Jim Ratcliffe.
New Man United investment of ‘no real significance’, says Wyness
Wyness claimed Ariel Investments have made the deal with an eye on a potential new stadium build, which could give United a state-of-the-art 100,000-seater home.
He told Football Insider‘s Insider Track podcast: “It won’t make any difference to Man United.
“It’s just a stock market transaction of no real significance.
“There will always be investors who want something like United in their portfolio.
“Obviously, this is a sign that they expect things to go well. They expect the new stadium project to go ahead, I’d imagine.
“They may be in it for the longer term.
“But it’s nothing more than a stock market play. I don’t expect the Glazers to start unloading stock and control at the moment.
“It’s a normal movement in the stock market.”
In other news, United working hard to agree winger deal.
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