Analysis of Manchester United Flotation

The Glazer family has moved to block any future hostile takeover of Manchester United by quietly altering the club's constitution, in a move that will further enrage the club's fans. The changes – almost certainly designed to protect the Glazers' control of the club if the family cashes in further shares – is revealed in regulatory documents published as part of the club's planned flotation in New York. The float stands to net the Glazers around $150m (£96m), despite previous assurances that proceeds would go towards paying down the club's debt.


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