Flotation cash to reduce United's debt
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Manchester United's proposed £600m flotation will be used to reduce the club's £480m debt, rather than to pay off personal debts the Glazer family have racked up to buy the club.
United's application to list on the Singapore Stock Exchange this month included a draft prospectus in which their reasons for the sale of up to 30% were laid out.
With £45m a year of the club's earnings going on interest payments, the float could create potential for investment in players. As The Independent stated on Tuesday, the use of the £600m to reduce personal debt would bring the family under pressure from investors and fund managers taking shares – as well as from fans wanting investment in the team.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments