Kenyon's Man U shares net £150,000

FORMER Manchester United chief executive Peter Kenyon has sold his shares in the Old Trafford football club that he quit recently for rival Chelsea.

Kenyon is on gardening leave until both clubs agree a date when he can take up his post at Chelsea.

But these talks became more complicated last week when Real Madrid's director of football, Jorge Valdano, said Kenyon had contacted him to discuss the potential transfer of defender Michel Salgado to Chelsea. United has reported Chelsea to the Premier League over the allegations.

Kenyon sold his family holding of 63,500 shares for about 230p each, netting £150,000 last week, says financial website Citywire. The shares were given to him free as part of a performance-related bonus scheme.

Kenyon earned a salary and bonus of £701,000 in his final year at United, but new Chelsea owner Roman Abramovich is believed to have more than doubled that salary to tempt him to London.

Kenyon still owns options over 1.18 million United shares that can be exercised at any time until July 2004.