Sport

Manchester United ‘postpone’ New York floatation plans amid Eurozone fears

By Mancunian Matters sports staff

Manchester United have postponed plans to float on the New York Stock Exchange after owners the Glazers became spooked by the unstable nature of the markets.

United was hoping to clear £64million of debt from their books by applying to sell shares on the New York Stock Exchange.

But now the club, which had been planning to float shares from early next month, are reassessing the situation after another dismal week in the eurozone.

The Reds were taken over by the Glazer family in 2005 in a deal worth £940million – but the takeover left the club in £423million debt.

The club, who boast more than 659million fans worldwide, were also investigating a potential flotation on the Singapore and Hong Kong stock markets but they have also been shelved.

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