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Man Utd considers partial Asian flotation

Category: England

Published: 16th Aug 2011 17:11:39

Manchester United's owners the Glazer family are considering a share sale in Singapore to help raise money to reduce some of their debts.

The BBC's sports editor David Bond says an initial public offering (IPO) is one of a number of refinancing options the American family is examining.

But, he says, they are only considering selling a minority stake - perhaps no more than 25%.

If successful, such a move could raise £400m ($657m).

The Old Trafford club was listed on the London stock market until it was taken over by the Glazers in 2005.

A partial sale share would mean that no outside person could take control of the club, while also providing the Glazers with much needed revenues towards paying of the club's debt.

United has more than 300 million fans around the world and more than 190 million in Asia.

The region has become a growth area for the club and other Premier League teams.

Manchester United and its chief executive David Gill have not commented on the issue.

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BBC News, 2011. Man Utd considers partial Asian flotation [Online] (Updated 16th Aug 2011)
Available at: http://www.ukwirednews.com/news/178265/Man-Utd-considers-partial-Asian-flotation [Accessed 17th Apr 2014]

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