Simon Jordan questions Manchester United Supporters Trust plans to buy club shares as fan group issues ultimatum to Glazer family owners

Manchester United Supporters Trust (MUST) will not have a major impact in the club unless they acquire at least ‘$10million’ worth of shares.

The fan group have issued an ultimatum to approximately 100,000 controlling investors, according to Sky News, expressing their dissatisfaction in obtaining shares and voting rights.

The debacle of the European Super League in April 2021 has led to fans demanding for more control within their sides.

Six English teams – Liverpool, Manchester United, Man City, Chelsea, Arsenal and Tottenham – attempted to breakaway from the current format and form their own association with other clubs around Europe.

But their attempt fell apart just 48 hours after the announcement following an almighty backlash from fans across the continent.

As the anniversary of the failed Super League plans approaches, changes have been made at board level with Liverpool launching a new supporters board in December 2021.

However, things have been slower elsewhere such as at Old Trafford, where Red Devils fans are yet to be given any opportunity to have meaningful representation.

Following the furore, Man United co-owner Joel Glazer said in June 2021 that fans would be given the same rights.

Speaking on talkSPORT, though, Simon Jordan questioned the communication director of MUST about how much impact they will have.

“If that’s what the Glazers have said, then of course they should be held accountable for it,” the former Crystal Palace chairman said on White and Jordan.

“Whether it’s going to make a material difference to the overall direction of control of Manchester United, I debate.

“I don’t know how much money the fans have got as a group to be able to buy shares in Manchester United.  

“I had read certain statistics, and of course you have to take these things with a pinch of salt that discussions were around $10million worth of shares.

“So if you think about the Manchester United share base, there’s 163 million shares in issue, the market cap at this football club is $2.25billion.

“If you’re going to be giving $10m worth of shares to the fans, or the fans are going to be buying those 10 million dollars, they’re going to be buying about 3.8 per cent of the club, what’s that going to achieve then?”

The current state of affairs within Manchester United are not entirely promising with the team struggling on the pitch.

And whilst the supporters group understands that a solution will not occur overnight, they are adamant that faster progress must be made.

Their statement read: “Negotiations on these matters can take some time, but we can’t allow them to drag on forever, particularly as in the meantime we continue to see our club decline on the field.

“We have now made clear to the club that we are looking for a resolution to this matter within the coming weeks.

“One thing is sure – it is inconceivable that we do not have a definitive response by the time we reach the anniversary of the European Super League announcement [in late April].”

Another source close to the situation said the process is taking too long.

“These talks have dragged on for nearly a year – enough is enough,” the source was quoted by Sky News.

“This is all about Joel Glazer living up the big promises he made, and whether fans can buy shares with equal voting rights with no caveats or get-out clauses from the club.

“There is mutiny amongst the wider fan-base right now and if the club don’t move on this quickly, the whole idea will be dead in the water.”