Manchester United's owners have put 9.5 million shares in the club up for sale.
The club announced the stock, worth $186.86m at the close of Tuesday's trading, would be made available via the New York Stock Exchange.
A statement said the Premier League club "will not receive any proceeds from the sale of any… shares".
The shares listed are in the names of directors Kevin Glazer and Edward Glazer and represent around 8% of the owning family’s combined ownership.
The latest development comes amid continuing fallout following the failure of the European Super League project, in which the Glazers were heavily involved, earlier this year.
United and 11 other leading European clubs threatened to break away to form their own rival competition to the Champions League.
It quickly collapsed after being hit by a wave of fan, sporting and political opposition.
That then brought the turbulent relationship between United supporters and the Glazers, which has existed since the Americans took control in 2005, back to the fore.
In response, the Glazers promised to engage more with supporters and said some shares would be made available to fans.
