Manchester United may delay Singapore floatation
Manchester United may put their Singapore flotation plans on hold until volatility in Stock Market conditions starts to ease.
United, who have privately dismissed renewed speculation about a potential £1.5billion sale to the Qatari Royal Family, have been given permission to launch a flotation.
It had been thought the Glazer family would actively pursue a move that would allow the whole process to be completed by the end of next month, which is still possible.
However, with the club keen to ensure a successful flotation, insiders say they are currently "in no rush" to execute their plans.
One of the reasons for this could be to allow the Stock Market to settle, thereby maximising returns which the Glazer family are hoping will be around £600million if, as anticipated, they opt to put 25% of the club on the market.
Details are yet to be released. However, it is expected the listing will involve a complicated mixture of primary shares, new shares which would dilute the Glazer family's interests, with the money going to the company, and secondary shares, which would involve the sale of existing shares, with the proceeds going directly to the Americans.
Also uncertain at this stage is how the Glazers intend to control the company, with some shares expected to be preference shares, which have no voting rights but would be worth more.
Opponents of the Glazer family have already called on them to use the money raised to clear United's debt, reduced to £308million in the most recent accounts, released earlier this month.
However. it is not known how the American owners managed to pay off £220million of payment-in-kind notes in November last year.
Latest in Sport
Arsenal have no plans to stock Petr Cech inspired caps in club shops - yet
Copa America 2015: When does it start, what channel is it on and who should I support?
Women's World Cup 2015: How England's semi-final success could do wonders for both sexes
Nigel Pearson: Leicester City sack manager despite Premier League survival
Radamel Falcao to Chelsea: Former Manchester United forward 'signs contract' to join Blues and is told to meet up with squad on pre-season tour
- 1 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 2 Russian officials ban yoga because it's too much like a religious cult
- 3 German ethics council calls for incest between siblings to be legalised by Government
- 4 Ginger Pride festival to take place next summer, organisers say 'time of bullying gingers is over'
- 5 Facebook rainbow profile pictures likely being tracked by social network
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Pentagon accuses Russia of 'playing with fire' over nuclear threats towards Nato
They are neither a 'state' nor 'Islamic': Why we shouldn't call them Isis, Isil or IS