Manchester United after $100m New York stock sale

03/07/2012

By Marcus Leach

According to documents filed with the Securities and Exchange Commission, Manchester United said it was listing on the New York Stock Exchange.

The English club have applied to list on the US stock market in a share sale aimed at raising $100m (£64m).

Last year the club had looked at the possibility of floating on the Singapore stock market for £1 billion.

The club have confirmed that money raised from the listing would be used to pay off debts, with them currently owing £423m.

"We intend to use all of our net proceeds from this offering to reduce our indebtedness," the prospectus filed with the SEC said.

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