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Manchester United

Record takeover deal

18 Aug, 1989

The Club is sold for £20m in the biggest takeover deal in the history of British football. The new owner is Isle of Man-based property tycoon and former footballer, Michael Knighton. Manchester United chairman Martin Edwards is to receive more than £10m for his majority share in the club and will stay on as chief executive. There had been rumours for some time that Mr Edwards was planning to sell his stake but the deal was shrouded in secrecy.