Man Utd Investment: Former Everton Chief Calls It a "Stock Market Play"

Everton’s ex-chief executive, Keith Wyness, has dismissed the recent share purchase in Manchester United by Ariel Investments as a mere "stock market play," downplaying its significance for the club.

Speaking on the latest edition of Football Insider's Inside Track podcast, the 66-year-old, who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy, claimed the investment holds "no real significance."

A filing with the US Securities and Exchange Commission (SEC) on 12 August revealed that Ariel Investments had acquired three million shares in United since the end of March. This acquisition now positions the US firm as the largest institutional shareholder of the club's publicly listed stock, owning 8.3 million shares.

While approximately 22.5% of the club is publicly owned, the Glazer Family and Sir Jim Ratcliffe hold the majority of voting rights.

Wyness believes Ariel Investments are likely eyeing the potential for a new stadium build, which could see United move into a state-of-the-art 100,000-seater ground.

He told Football Insider's Inside Track podcast: "It won't make any difference to Man United. It's just a stock market transaction of no real significance. There will always be investors who want something like United in their portfolio. Obviously, this is a sign that they expect things to go well. They expect the new stadium project to go ahead, I'd imagine. They may be in it for the longer term. But it's nothing more than a stock market play. I don't expect the Glazers to start unloading stock and control at the moment. It's a normal movement in the stock market."

In other news, United are reportedly working hard to secure a deal for a new winger.

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