United Clear For Take-Off In Singapore 16/09/2011
Manchester United have been given the green light to lure potential investors for this winter's £600 Million share floatation on the Singapore Stock Exchange. The Glazer Family are hoping to wrap-up deals with big name investors before the start of the sale of 25% of the club takes place in December... The Glazers, who have burdened United with £500 Million debt, are seeking to clear - or at least cut - the club's debt by selling 25% of their stake in Asia. It is hoped the sale will raise $1 Billion (£630 Million), and that these proceeds with be used to rid The Reds of their loan repayments. The Glazers, fronted by Malcolm, bought United between 2003 and 2005 for approximately £800 Million. The valuation has increased almost three times over since then. Although interested from The Red Knights and Royal Family Of Qatar was registered, neither opted to buy the club due to issues with funds and a dismissal of the asking price respectively. It is though The Glazers wanted at least £1.5 Billion for the outright purchase, but many believed that this cost was too high. If the Singapore sale works out, the club will be valued at a staggering £2.5 Billion, however critics argue this is not a true valuation of the club. Two-thirds of United's offering is expected to come in the form of a dual-share, preferred share structure, which gives investors almost double the dividend but carries little or no executive voting rights. The Red Devils recently posted a record operating profit of over £110 Million, and according to reports from the Arabian Peninsula, the Qataris have renewed their interested in buying - at the most - 75% of United, which would bid farewell to The Glazers. CommentsRedboy 16/09/2011 7:24pm
Finally!! l33bo 17/09/2011 8:12am
fuk off glazers fuk off glazers Del Boy Red 17/09/2011 11:44am
fuck of Glazers Ajay 17/09/2011 1:44pm
As long as all that money goes to clear debt of United it's fine. That money is for United not for their PIK payments. I will be more happy to have Glazer at Club then any Arab man. Anomaly18 17/09/2011 7:44pm
Ajay, you have something against Arabs?? G13 18/09/2011 4:35am
Seriously wonder if glazer would delist or dilute the shares after he had gotten what he wants.. I certainly hope not! One love and nothing but ManUtd!! Bill McNeal 18/09/2011 11:29am
Better the devil you know.... Comments are closed. |



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