Wednesday, October 5, 2011
Potential IPO
Rumor's exist that the Glazier family is looking into taking Manchester United Football Club public on the Singapore Stock Exchange. The family says that they are not looking to sell out of the team, which means they likely are looking into reducing the amount of debt the team has. Reducing debt can help the team potentially with "Financial Fair Play" rules. Singapore is an attractive place to take the team public because of the increasing popularity among Manchester United football club in Asia. More than half of the 330 million teams fans are in Asia.
Subscribe to:
Post Comments (Atom)
What's the overall fan reaction to this potential move? Are they still generally against the Glazer family as owners or have they changed their stance on them? I would imagine the recent 6-1 slaughter to Manchester City wouldn't have helped anything in terms of the fans respect or acceptance of the owners.
ReplyDeleteGreat question. Although it is impossible to know what all of the fans will feel about this, it can be assumed that this move will change the fans perspectives of the Glazer family. One of the reasons in 2005 why there was such negative reaction of the sale to the Glazer family was because the glazer family financed the purchase with an incredible amount of debt. When the Glazer family lists the company on the Singapore Stock Exchange they will take the proceeds from the IPO and pay off large amounts of the teams debts. This will likely change the fans perspective of the Glazer family. Due to recent market volatility the glazer family has postponed the IPO on the Singapore Stock Exchange
ReplyDeletehttp://www.reuters.com/article/2011/09/20/us-manchester-utd-idUSTRE78J4EY20110920