Flotation cash to reduce United's debt
Your support helps us to tell the story
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
Louise Thomas
Editor
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.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments