Red Knights group demand Glazers reduce stake in Manchester United in open letter
Pressure is again growing on the Glazers to sell Manchester United
Two of the men behind the Red Knights consortium, who famously attempted to wrest Manchester United from Glazer control over a decade ago, have urged the club's American owners to relinquish some of their stake following the European Super League fiasco.
The Glazers have been widely unpopular amongst United's fans since their leveraged buyout of the club in 2005, and their involvement in the proposed Super League has seen anger amongst supporters spike once again.
As reported by Sky News, Lord O'Neill, responsible for the Red Knight's campaign in 2010, and hedge fund manager Sir Paul Marshall have now penned a letter to Joel Glazer.
— FootballJOE (@FootballJOE) April 21, 2021
The Glazers' stake in United currently stands at approximately 75%, but the letter demands that the family make a commitment to reducing this to a maximum of 49.9%. The letter is also said to demand that the Glazers ditch the club's dual-class share structure, introducing a single class of voting stock.
These moves, it explains, would "encourage a broader group of investors to consider ownership in the club in the future if they have the same voting rights as everyone else, especially you and your five siblings".
It is not believed the letter represents any formal resurrection of the original 2010 Red Knights bid to takeover at United, but it hints at the potential for a revived effort to rid United of the Glazers.
United's abandonment of the Super League plan, coupled with the announcement of Ed Woodward's resignation, has already seen some speculation that the Glazers would now contemplate selling the club.
Joel Glazer has since sent a letter of apology to United fans, stressing the need to put things right.
This has done little to appease the anger, with some United fans breaching the club's training ground to protest their ownership and involvement in the Super League proposal. Further protests are being planned for the days and weeks to come.