Manchester United is slated to sell off a large stake of the club to Singapore investors in an effort to pay off some of their debts that total up to more than £515m. Sports Editor for the BBC David Bond stated that now it is clear why the club chose to place a listing application with the Singapore Stock Exchange with an estimate that selling stakes in the club may be able to earn it anywhere from £400 to £600 million. It is thought that the club wants to close out the listing by the end of 2011.
After the Glazer family took over the club in 2005 it was taken off of the London stock market which meant that if shares were only sold between 25% to 30% then an outsider would not be able to gain control and the family would still have complete control of the Old Trafford club. While not losing control, the partial sale would offer the Glazers the money that they need to get some of the debt off their back that they gained when they financed the large takeover of the club and hopefully help them get the club back on their feet.
