Manchester United rises with owners reportedly open to minority investor

Aug. 17, 2022 9:40 AM ETManchester United plc (MANU)By: Jason Aycock, SA News Editor2 Comments

Old Trafford football stadium

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  • Soccer club Manchester United (NYSE:MANU) has come out of the open up 4.7% as the under-pressure ownership is reportedly open to a sale of a minority stake in the team.
  • That comes after an overnight kerfuffle as billionaire Elon Musk joked on Twitter that he was buying the club before later saying "I'm not buying any sports teams."
  • The Glazer family that owns Manchester United - one of the world's most successful clubs - isn't ready to cede control of the team but has held preliminary talks about bringing in a new investor, Bloomberg reports.
  • The Glazers have faced resistance from fans since the late Malcolm Glazer bought the team in a 2005 leveraged buyout, pressure that intensified after coach Sir Alex Ferguson's retirement in 2013, leading to a lull in the team's success - and growing protests against ownership.
  • TastyTrade CEO Tom Sosnoff says Musk is on a "dangerous path" in tweeting about buying public companies.

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