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As featured on NewsNow: Football news

Man Utd fans not opposed to flotation

The Manchester United Supporters Trust (MUST), a group campaigning for an end to the Glazer family's control of the club, would "cautiously" welcome a flotation of the Barclays Premier League giant, reports Sport Business. A report in The Sunday Times suggested the Glazers have held talks with a number of investment banks about listing the Premier League champion on the Hong Kong stock market.

There is speculation the flotation could value the club at £1.7 billion, and MUST chief executive Duncan Drasdo told The Manchester Evening News that the flotation "could be an opportunity for supporters to once again share in the ownership of their club".

Drasdo called for a full IPO listing, "signalling a clean exit for the Glazers", and added that the valuation "would have to be realistic - something closer to £1 billion rather than the £1.5 billion that the Glazers seem to feel is possible".

In March, United parent company Red Football Joint Venture Ltd. announced a record £104.7 million fiscal-year loss due to costs related to swapping a long-term bank loan for a bond last year as well as lower income from player sales.

Drasdo also called for available shares to be "available to all Manchester United supporters and floated on the UK market to maximise accessibility". He continued: "Many supporters would hate to see the Glazers walk away with a huge profit, but it isn't about them."

The MUST chief executive added: "It is about what is best for Manchester United - the club and its supporters. If we wish to persuade the Glazers to go for a full flotation then a million Manchester United supporters standing together, represented through MUST, could present a compelling argument."

 It's kicking off again! Click here for your No1 source for Manchester United transfer market news and gossip.

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Dave Williams

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