Manchester United fans demand revival of share ownership scheme | Money News

An influential Manchester United supporters’ group has demanded that the membership’s house owners revive plans for a fan share scheme, which stays on ice practically three-and-a-half years after it was initially promised.

Sky Information has learnt that the Manchester United Supporters’ Belief (MUST) wrote to Joel Glazer, Sir Jim Ratcliffe and Omar Berrada, the membership’s new chief government, in September to induce them to make use of plans for a redeveloped Outdated Trafford – or model new stadium – because the catalyst for the fan possession venture.

Within the letter, a duplicate of which has been handed to Sky Information, MUST alluded to discussions it was holding with a crowdfunding platform which might facilitate the implementation of such a scheme “at considerably better scale than beforehand imagined, speed up its execution, and in all chance scale back prices borne by the Membership”.

Mr Glazer introduced the plan to create an fairness scheme for United followers within the aftermath of the European Tremendous League fiasco in 2021, which despatched relations between the Glazer household and plenty of supporters to a brand new low.

Since then, Sir Jim’s Ineos Sports activities automobile has acquired a 25% stake within the membership, sparking hope of a brand new, extra constructive dialogue between the 2 sides.

A separate Followers Advisory Board has been established, though the membership isn’t thought to have formally responded to MUST’s September letter.

Folks near Manchester United say a supporter scheme is unlikely to proceed whereas the membership’s future stadium necessities – and the huge financing related to them – stay unclear.

Nevertheless, whereas they acknowledge that the initiative is on ice, they insist it isn’t useless.

The Every day Telegraph reported this week {that a} resolution about whether or not to redevelop or bulldoze Outdated Trafford could be made subsequent summer time, with a majority of followers mentioned to be in favour of the latter possibility.

In its letter two months in the past, MUST mentioned it had reached an in-principle settlement with Manchester United to ascertain an ‘F class’ of fan shares which might have the identical 10-times voting rights because the B-shares held by the Glazers.

Funds raised from the acquisition of F-shares “could be ring-fenced for funding in infrastructure or fan-related initiatives, and in session with the Fan Advisory Board,” the letter mentioned.

“The Membership would supply one free share to all Season Ticket and Facility holders and Official Membership Members (as of a given date) to generate buy-in and momentum from this key group of supporters.”

MUST added that the stadium venture introduced a possibility “to ignite fan curiosity, elevate significant capital, and provides followers an actual sense of possession within the new stadium”.

“Because the Membership assesses its choices to fund the stadium, we imagine equity-in the type of the FSP, and doubtlessly a wider share provide to investors-is by far the most suitable choice for our soccer membership and supporters.

“As custodians of this nice membership, we hope you’ll agree.”

Information of the letter comes simply days after Manchester United appointed Ruben Amorim, the Sporting Lisbon head coach, to succeed Erik ten Hag, who was sacked final month.

After Sky Information approached it concerning the leaked letter, a MUST spokesman mentioned: “Creating a way for followers to amass, over time, a significant stake within the possession of Manchester United was one of many key commitments made by the membership following the disgraceful plans to hitch a European Tremendous League.

“Certainly, Joel Glazer dedicated to construct the biggest followers share scheme in world sport.”

The group added that whereas the method to promote the membership, which resulted within the Ineos deal practically a yr in the past, had induced a delay to the possession scheme, “it’s important that the house owners of the membership clearly restate their long-term dedication to this essential post-ESL promise”.

Many United supporters have been mistrustful of the Glazers since their £790m debt-funded takeover of the membership in 2005.

The household floated the corporate on the New York Inventory Change in 2012, however retained management of it by way of the B-shares.

Sir Jim now has total cost of soccer issues at Outdated Trafford.

A Manchester United spokesperson declined to remark.