Man United confirm share plans

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CONFIRM?

The Glazer family have issued a notice of intent to sell just over 10 per cent of Manchester United on the New York Stock Exchange.

An announcement was made on Monday and confirms an intention to raise around 300million US dollars.

However, there does appear to have been a significant shift in how the proceeds will be used.

Previously, it was suggested that the entire sum would be used to pay off United's massive debt, that currently stands at over £400million.

However, the prospectus that has been released to accompany the announcement indicates only half the money will be used in that way, with the rest going directly to the family.

If that proves to be the case it will provoke fury among the United support, who have already seen vast amounts of cash disappear in various charges following the Glazer family takeover in 2005.

Some view them as mere custodians of United and, taking Sir Alex Ferguson's repeated assurances - the latest delivered less than a fortnight ago - treat them from a neutral perspective.

More militant Red Devils fans have maintained an antagonistic stance, continually stressing how draining the Glazers' involvement has been to United's finances.

And it is not yet known what the exact response in New York will be given the US can hardly be described as a soccer hotbed.