Manchester United's American owners continue to antagonise Reds supporters with reports that the planned $1b flotation in Singapore will not dilute their shareholding or control at Old Trafford. Sources have told Reuters the club plans to use a two-tier system of shares in Singapore that would minimise any new shareholders' influence.
"It is certainly disappointing," Duncan Drasdo, chief executive of Manchester United Supporters Trust, told Reuters.
"Clearly the degree of control by one majority shareholder has to be a major concern for any conventional investor thinking of purchasing shares primarily seeking a return on investment.
"We want to see the majority of the profits that Manchester United generates invested back into the football club," Drasdo added
"There are so many better uses for Manchester United's profits than sending the money to Florida or into interest or debt payments on the Glazer's debts which they transferred onto our club or indeed into excessive dividend payments resulting from an excessive valuation at IPO."
