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Glazers offer up 8 million Manchester United shares

The American owners look set to be cash in on the price boost caused by the arrival of Louis van Gaal, but the team itself won't see a penny of any profit.

Manchester United's owners have announced they will sell 8 million shares of their stake in the Premier League club.

The Glazer family will part with about 5 percent of United's shares on the New York Stock Exchange, which is set to earn the American investors $154.5 million.

The current share price on the NYSE for United is $19.31 after Wednesday's trading.

A news release stated the Premier League powerhouse would not benefit from the share sale — only the owners will.

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"Manchester United will not receive any proceeds from the sale of any Class A Shares by the Selling Shareholder," the statement read. "The Class A Ordinary Shares are listed on the New York Stock Exchange under the symbol 'MANU.'"

The Glazers appear to be cashing in on the club's renewed optimism, after replacing David Moyes with Louis van Gaal as manager.

When Moyes' firing was confirmed, United's share price had dipped to $14.98, but had already bounced back to $16.74 by the time Van Gaal was appointed.

The Glazers' ownership has often been a source of frustration for United fans following the Americans' takeover in 2005, with many believing the club has been denied suitable transfer and operational funds.