Humby ponders United future under Glazer
If Nick Humby's FD services are no longer required under the Malcolm Glazer regime at Manchester United, he could be in line for a £750,000 payoff
Manchester United finance director Nick Humby is in line for a £750,000 payoff, if his services are not required under the Malcolm Glazer regime at Old Trafford.
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Humby, whose future has been the subject of intense speculation since Glazer began his ruthless quest for ownership of the club, refused to be drawn on the situation.
He told Accountancy Age that the club’s executive board would wait to see the offer document for the club from Glazer before deciding whether they will stay on at Old Trafford.
David Pope, of investment bank Brewer Dolphin, said more information on the future of the board will emerge in a few weeks, when the offer document is released.
‘After going over a 30% stake, an offer document has to be released within 28 days,’ said Pope, before adding that it normally happens sooner rather than later.
The latest Manchester United annual report disclosed that Humby held options through the company’s long-term incentive plan, executive share option plan and its ‘sharesave’ scheme. Should Humby decide to leave, he may be entitled to £670,116 through the vesting of his share options, and another £97,068 from his 32,366 ordinary shares.