Ed Woodward could make over £1.5million from the sale of Manchester United... and perhaps even more if the Glazers get their way.
United's unpopular owners put the club up for sale three months ago and have received at least two bids ahead of Friday's 'soft' deadline from Qatari banker Sheikh Jassim bin Hamad Al Thani and INEOS chief Sir Jim Ratcliffe. Both are self-proclaimed United fans.
Former United chief Woodward, who resigned last year following a divisive nine-year reign, owns shares and will receive around £1.5m if 100 per cent of the club is sold for £4.5billion. Nonetheless, it is believed the Glazers remain hopeful of landing upwards of £6bn.
As reported by the Daily Mail, Woodward owns 0.05 per cent of one 'B' share and that will be worth around £1.5m if the club is sold for £4.5bn - the offer submitted by Sheikh Jassim. These 'B' shares make up 67 per cent of United's total shareholding.
Others are also set for a big payday from their 'B' shares. If Sheikh Jassim's offer is accepted, Joel Glazer will receive £573m from his 19.11 per cent. Siblings Darcie (18.15 per cent), Bryan (17.23), Avram (17.23), Kevin (13.77) and Edward (12.99) will also make a fortune.
That will mark a substantial profit for the Glazers, as the late Malcolm Glazer paid around £790m to take full control of the club between 2003 and 2005. Ratcliffe's bid, which is also said to be around £4bn, would also land Woodward and the Glazers a lot of cash.
What's your opinion of Ed Woodward? Let us know in the comments below!
According to The Sun, however, the Glazers will not sell United for fewer than £6bn - despite a valuation of around £3.7bn by Forbes. That is because Joel and Avram Glazer, who are heavily involved in the running of the club, are less keen on sale than their siblings.
"It’s still not clear if the Glazers actually want to sell and - if they do - it will only be for top dollar," a source told The Sun. "It’s possible they are keener on a partial sale rather than a full one at this stage - as that might value the club higher.
"What is obvious is that they want to maximise their profits by selling at their preferred price or not at all.
"The other possibility nobody is discounting is they will simply decide that none of the bids is anywhere near what they want and call it off, in the hope that the market conditions change in their favour in a year or so."
As such, Woodward could be in for a huge payday. United's former executive vice-chairman became the club's top operational executive following the retirement of David Gill in 2013, but they won just three major honours during his nine-year tenure.
Woodward's position became untenable following the European Super League debacle in April 2021, which aimed to create a closed shop of elite European clubs. He announced his intention to step down following huge protests from supporters.
