Avram Glazer has put shares of Manchester United worth more than £70 million up for sale.

The club announced “the offering of 5,000,000 of its Class A Ordinary Shares by the Avram Glazer Irrevocable Exempt Trust.”

The club also confirmed “Manchester United will not receive any proceeds” from the sale of the Class A shares, which have a tenth of the voting rights of Class B shares.

Avram Glazer’s personal stake would reduce to 10.2% if they are sold, reducing the Glazer family’s ownership from 78% to 74.9%