United updates on fans' shares scheme
Manchester United has provided an update on progress towards creating a new Fans’ Share Scheme to open a path for supporters to build an ownership stake in the club.
Discussions have been under way for several months with the Manchester United Supporters’ Trust (MUST) about the proposed scheme.
In a statement on Monday, the club said: “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.
“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.
“As well as making progress on the Fans’ Share Scheme, we are also creating a Fans’ Advisory Board as a new channel for board-level dialogue with supporters and this is close to launch.”
The share scheme and advisory board were proposed by Joel Glazer, Manchester United co-chairman, in a meeting with the club’s Fans’ Forum last June, when he expressed hope that they would “reset the relationship with our supporters [and] strengthen the club as a whole”.
The proposed share scheme would involve a new class of fan shares each with the same high-vote rights as the B shares held by the Glazer family.
More details will be provided on both the share scheme and the advisory board once these processes are completed.