Two of the alleged ‘Red Knights’ have sent a letter to one of Manchester United’s controlling investors, Joel Glazer, requesting that his family decrease their stake in the club to half of their current share at the club.
The Red Knights were a gathering of brokers and agents who were additionally deep-rooted United fans and who attempted to wrest control of the club from the Glazers in an ineffective control overbid in 2010. The bid bombed when the Glazers set an asking cost for the club hugely in overabundance of the genuine market esteem.
Master O’Neill, Goldman Sachs’ central market analyst, and Sir Paul Marshall, fellow benefactor of one of Europe’s biggest flexible investments, are the two previous individuals who have sent the letter, spilled by Sky News today.
🚨 BREAKING: Lord O'Neill & Paul Marshall, who led an attempt to prise Manchester United from the Glazer family's control a decade ago have written a letter urging them to loosen their grip in the wake of this week’s European Super League debacle #mufc #mujournal
[@SkyNews] pic.twitter.com/1VaPOCms8w
— United Journal (@theutdjournal) April 23, 2021
The double class share structure considers individuals with the unlisted ‘B’ class shares – the Glazer family – to need 10 votes for every offer. The NYSE-recorded class ‘A’ shares – the only ones accessible on the open market, qualify their holders for only one vote for every offer.
The letter expresses that these concessions would ‘encourage a broader group of investors to consider ownership in the club in the future if they have the same voting rights as everyone else, especially you and your five siblings considered’.
The ongoing Super League debate has created a lot of controversies across the club and also at Manchester United. Ed Woodward has already resigned from his role and United withdrew from the League which brought a major change in the United authority.
Many of them have even raised their voice against the Glazers as it is most likely that they may leave their current ownership of the club.
