Major stakeholder in Manchester United selling shares

In the event of a possible sale, one of Manchester United's biggest investors continues its divestment from the club.

Ariel Investments, the Chicago-based asset management firm, is reportedly selling off more of its stake in the iconic Premier League club. 

On Monday, a filing with the Securities & Exchange Commission (SEC) revealed that in the third quarter of 2023, the firm reduced its investment in the Red Devils by 831K shares, an approximately 13% drop. 

According to Front Office Sports, the company still holds 5.7M shares in the team and retains its position as the second-largest institutional investor.

Just two years ago, Ariel bought a massive stake in the club, yet it began to shed some of its hold when the Glazer family announced that it would consider adding "alternative investments" or selling the team outright. 

The Glazers, the Tampa-based owners of the NFL's Buccaneers, have been reviled in England for their distanced stewardship of the team, with regular protests by supporters against their presence. 

Even the family's decision not to send a representative to Monday's funeral services of beloved Sir Bobby Charlton — one made as not to be a distraction, according to team officials — has angered fans. 

In their time as owners, Manchester United is from the dominant side of old on the pitch, essentially handing over their reign over the Premiership to their crosstown rivals in Manchester City.

Ariel's slow divestment may bode well for British billionaire Jim Ratcliffe, who has offered to buy as much as 25% of the club to facilitate an eventual takeover from the Glazers. However, the economic climate that surrounds global soccer could start to change a bit as talk of an economic recession picks up once again. 

Persistent inflation will have an impact on the types of financing it takes to buy sports teams, redevelop stadiums, and even invest in broadcast and streaming media.