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Gill relaxed as Man Utd share price fails to take-off

Chief Executive David Gill is still confident for the future despite a disappointing share price when Manchester United were listed on the NY Stock exchange. United offered 16.7m shares - equal to a 10% stake - at a price of 14 US dollars (around £9) each before listing on the New York Stock Exchange on Friday, but there was little price movement in early trading.

"The level of debt that we've had at the club since they've taken over hasn't impacted what we've done as a team," Gill told Sky Sports News.

"We've won four Premier Leagues, we've been to the Champions League final three times, we've had ongoing success on the pitch.

"We fully understand and the owners fully understand that what happens on the pitch is crucial to us and we will make sure there are sufficient funds to invest in the team going forward.

"We're comfortable with the leverage we've had and we believe that given the growth opportunity we've got ahead of us - for example we've signed Chevrolet to a seven-year shirt sponsorship commencing in 2014, which is over twice what our current shirt sponsors make - we've got a lot of interesting and good opportunities to improve our cash flow going forward."

Trading under the stock market ticker Manu, shares rose but then pulled back to stand still at the 14 US dollar mark.

Shavaz Dhalla, financial trader at Spreadex, said: "After opening positively, possibly caused by smaller retail investors looking to pick up a token share, the club's share price slowly began to retrace and drop early gains.

"Clearly, investors who are actually looking for a return as well as a shareholder voting right are steering clear."

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