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One of Manchester United's biggest backers has criticised the club for inflicting 'reputational damage' in the wake of last month's foiled plan to establish a European Super League.
Nick Train, who manages the UK Equity Fund Lindsell Train, expressed alarm in face-to-face meetings with representatives of the controlling Glazer family as discontent over the proposals rumbles on.
Lindsell Train owns 27 per cent of United's New York-listed Class A shares, comprising around seven per cent of the club, while it also has a significant interest in Juventus, who are yet to extricate themselves from the breakaway, and Celtic.
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With its stake totalling almost 30 per cent, the fund manager is one of the two biggest shareholders in United outside of the Glazer family.
Train wrote in his monthly report to investors: 'The announcement of the breakaway European Super League ('ESL') in April came as a surprise to us.
'In response, we requested and have now had meetings with all three clubs (including Celtic, even though it was not a member of the ESL).
'At these meetings we expressed our disappointment about the reputational damage Juventus and Manchester United have inflicted on themselves.
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'We asked for clarity about their position regarding the ESL going forward.
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'Most importantly, we urged them to return to respectful negotiations with all members of the football community to work toward mutually beneficial ends.
'We continue to monitor events closely as they unfold, while considering their implications for our investment case.'
The website of Lindsell Train highlights how the City giant looks to invest in companies which 'exhibit characteristics with good corporate governance and responsible business practices'.
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However, after the shares in United and Juventus both collapsed in the wake of the Super League fiasco, the Evening Standard was told by one fund manager that Train would 'not be happy'.
United shares initially dropped by six per cent and Juventus' fell by 11 per cent, with both clubs feeling the effects of their attempts to push forward the much-maligned Super League proposals.
Lindsell Train's concern echoes those of some of the club's commercial partners, including reports that kit sponsors Adidas were disappointed not to have been briefed in advance about the proposals.
United fans have vowed to continue their protests against the Glazer family when fans are allowed to return to Old Trafford for the club's final home match of the season against Fulham on Tuesday.
Earlier this month, United's game against Liverpool was postponed after fans invaded Old Trafford prior to the scheduled kick-off, while protests continued outside the stadium during this week's rearranged fixture.
More recently, United star Edinson Cavani has effectively taken aim at the Glazers by revealing his own dismay over the Super League plans.
'When the Super League came around I told myself: "That can't be possible - if it happens, what can we expect next?",' Cavani told Dos De Punta.
'I don't share its ideas at all. I am not in agreement with it. You mustn't deprive more modest teams the chance of playing in the Champions League.'
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