|Supporters Group Put Manchester United Under Pressure after IPO Shelved Reports|
|Football / Soccer|
Thursday, 26 July 2012 15:05
Manchester United has come under increasing pressure from the Manchester United Supporters Trust (MUST) to launch a full flotation following reports that their planned initial public offering (IPO) launch in New York has been shelved.
First in Hong Kong and Singapore, then New York, it has seemed the Glazer family have been looking to raise additional capital through a partial sale of the club.
It is estimated the debt incurred during their leveraged takeover in 2005 has so far seen in excess of £500million taken out of United to pay assorted fees and charges.
And within their prospectus, it was admitted the club's present debt of £423million could hamper them in the transfer market.
"We now call on the Glazers to come back with a full flotation of Manchester United with a single class of full voting shares," MUST chief executive Duncan Drasdo said.
"Should they choose to do this, with no strings attached, we would support such a flotation wholeheartedly and encourage the global fan base of Manchester United to seize such an historic opportunity to secure a meaningful fan ownership stake where the priorities of the club are the same as the fans - not absentee owners."