Man Utd chief sells a further block of club stock

Manchester United chief executive, Mr Martin Edwards and his family yesterday unlocked another £3

Manchester United chief executive, Mr Martin Edwards and his family yesterday unlocked another £3.9 million sterling of their holding in the club, taking the total they have made in the last few days close to £10 million. On Monday it was announced that shares worth £5.91 million had been sold.

The shares went on the market to help meet institutional demand and the sale has also aided the club's share price - the 680p the latest stock was sold at 30p higher than the price the first lot went for last week.

However, the selling spree has come to an end and Mr Edwards has said he had "no present intention" to dispose of any more shares for the foreseeable future, although he said something similar in June 1996 when he last realised some of his stake.

In the latest sell-off, Mr Edwards himself sold 80,000 while a trust for his children released another 500,000 shares.

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The 14.07 per cent stake he now controls in the club is worth £62.1 million at the price the latest shares went for, although over a quarter is locked into family trusts. - (PA)