Manchester United chief executive Mr Martin Edwards yesterday netted around £41 million sterling (€63.4 million) from the sale of a big chunk of shares in the club in a move expected to herald boardroom changes. The shares went to more than a dozen big financial institutions rather than any of the wealthy individuals believed to have been keen to buy into the European champions.

In a statement, United said that Mr Edwards was left with a stake of around 6.5 per cent, down from 14 per cent, in a move that is expected to clear the way for him to move into the chairman's seat at the world's richest club.