Manchester United is reportedly “close” to agreeing the details of its new fan ownership plans which were pledged by its owners following the European Super League debacle.
United supporters have voiced their discontent at the club’s Glazer ownership for nearly two decades, which culminated in large-scale protests after their failed attempt to join the Super League in April.
Sky News now reports that the club and the Manchester United Supporters Trust are at an advanced stage in discussing the new initiative.
The club will issue an initial portion of shares to be owned by supporters which will provide them the same voting rights as the B-share class owned by Glazer family members.
Sky also report that the initial portion issued under the scheme will be worth in the region of $10million, with each of the B-shares (the new fan shares) carrying 10 times the voting rights as the regular A-shares held by most investors.
It is understood that the club will then issue further shares in the following years depending on how much demand there is from Red Devils fans.
The scheme’s details are set to be formally agreed by the end of the year before being subject to a ballot of MUST members.
While that is later than what club co-chairman Joel Glazer stated in his statement in June, both sides have reportedly refused to view the delay as a blow due to the importance of the new initiative being “workable.”
As reported by Sky News, a Manchester United spokesperson said on Monday: “We are in advanced talks with MUST about a Fans' Share Scheme which would open a path for fans to build, over time, a meaningful ownership stake in Manchester United.
Do you think the new fan share ownership scheme will put Man United back on top? Let us know in the comments section.
Don't miss a thing with our football updates!
Want to be on the ball with all of the latest football news?
Well then sign up for the brilliant Daily Star football email newsletter!
From the latest transfer news to the agenda-setting stories, get it all in your email inbox – don't miss a thing.
How do you sign up?
It only takes a matter of seconds.
Simply type your email address into the box at the top of this article and hit 'subscribe'.
And that's it, job done. You'll receive an email with all of the top news stories every single morning.
You can find out more information on our email newsletter on this link here.
"This would give fans a strong collective voice within our ownership structure and help cement a new spirit of long-term partnership between fans and the club.
"There are significant legal and regulatory complexities being worked through, together with MUST and expert advisers."
The news comes at an opportune moment for United fans with their side struggling for form and results in recent months.
Ole Gunnar Solskjaer’s position as manager has come under scrutiny numerous times already this season, with United looking far from the Premier League title many expected them to be after signing Cristiano Ronaldo, Jadon Sancho and Raphael Varane for well over £100million.
Vice-chairman Ed Woodward’s replacement is also yet to be announced with his departure imminent, though managing director Richard Arnold is expected to succeed him.
Source: Read Full Article