Manchester United to sell Stake in Singapore Stock Exchange
August 19, 2011
English soccer giants Manchester United are looking to sell a significant stake in the club help pay off its gross debts of US$850m, the BBC has reported.
It is understood the club has lodged a listing application with the Singapore Stock Exchange and they want the listing completed by the end of the year.
The club, owned by the Glazer family, were removed from the London stock market following their takeover in 2005.
A partial share sale, of between 25% and 30%, would mean that no outside person could take control of the club, whilst providing the Glazers money to pay off the debt accrued when their takeover was financed.
The flotation would also be an opportunity to see what value the stock market puts on Manchester United, with an overall valuation of the club of anything up to £1.7bn.
Analysts have also seen a Singapore listing as an aggressive move by the club to create an even stronger presence in Asia, who reportedly comprise 190 million of the club’s 300 million fans worldwide.