English Premier League giants, Manchester United have confirmed talks with the club’s supporters’ trust (MUST) over the introduction of a new ‘fans’ share scheme’.
The announcement comes amid growing tension between United’s Glazer family ownership and fans following the fallout from the club’s involvement in the European Super League (ESL).
According to Sky News, around US$10 million of shares will be available to Manchester United fans under the agreement, which is close to being finalised.
The proposed scheme would offer fan shares with equal voting rights to the Glazer family, who own the B shares in the club. These are worth tenfold the value of standard A shares.
In a statement on 15th November, the Premier League 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 club said that the share scheme was suggested by Joel Glazer, Manchester United’s co-chairman, during a fans’ forum in June 2020.
In the meeting, Glazer said that he hoped the ownership group would “reset the relationship with our supporters [and] strengthen the club as a whole.”