By Duncan Mackay
June 13 – Manchester United seem set to abandon their plan to list the club on the Singapore stock exchange, preferring to do it in the Unite States instead, according to report.
Owners, the Glazers, are understood to have wanted to sell Class B shares with limited or no voting rights to maintain a level of control of 95-100 per cent, according to Reuters.
Forbes recently valued United at around $1.86 billion (£1.15 billion/€1.30 billion), making it the most valuable sports team in the world.
The Glazers hope the stock floatation will keep it ahead of the chasing pack, and help the club capitalise on its estimated 659 million fans around the world.
A US listing might earn the company a better valuation as a media business, since it has contracts for broadcasting rights as well as its own television channel.
The shopping-mall tycoons purchased United in 2005 when it was listed on the London stock exchange, but saddled the club with considerable debt in order to fund the purchase.
Selling a minority stake could help raise funds to pay down that debt, and reduce the amount United pays in interest each year.
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