Glazers gain £75m in United flotation

The American owners of Manchester United have pocketed around £75million as shares in the club were publicly traded for the first time in seven years.

Some 16.6 million shares, equal to 10% of the club, were floated on the New York Stock Exchange to great fanfare as members of the Glazer family rang the opening bell.

The 134-year-old club offered shares for 14 US dollars (£9) a piece - giving United a market value of £1.5 billion - but there was little price movement in early trade. The offering was substantially lower than the 16 to 20 US dollars originally proposed by its advisers - which would have valued the club at £2.1 billion at the top end.

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