Man Utd stay silent on Singapore float talk

Manchester United last night refused to comment on reports that it is planning a $1bn flotation on the Singapore stock exchange by the end of this year, writes Bernard Ginns.

The flotation could help reduce the club’s huge debt pile which has helped make the owning Glazer family deeply unpopular with many fans, inspiring slogans such as ‘Love United, Hate Glazer’ from some supporters.

The debts could also mean United could struggle to meet new financial fair play rules put forward by UEFA, one of the aims of which is to limit the amount of borrowing clubs can take on.

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It would be a second stock market incarnation for the club, which was listed in London before being taken over by the Glazers in a deal worth £790m in 2005.

Banks Credit Suisse and UBS were close to winning the mandate for the initial public offering, according to Reuters, which also reported that Morgan Stanley was also in the running.

A Manchester United spokesman said the club do not comment on speculation.

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