By Max Clarke
Manchester United are to proceed with their initial public offering on the Singapore stock market in a bid to address their mounting debts.
The club’s immense popularity across Southeast Asia will see a rush of interest in share purchases, despite the company being £700million in debt and paying £40 million in annual debt payments.
Some, however, doubt the financial success of the floatation, owing to the company’s indebtedness. Speaking to the Jakarta Globe, one market analyst said:
"Liking Manchester United as a football club does not mean that I have to buy their stock. I can just buy their merchandise and kits.”
Current owners, the Glazer family are selling their minority stake in the club, expecting the sale to generate £600million, though analysts quote the speculative value of the club to be anything up to £1.7bn, the BBC report.
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