BR - Feeling the pressure of its business constraints, Manchester United is expected to make its stock market debut on the New York Stock Exchange on Friday.
The only problem is, acts of desperation generally don't work out too well on the market.
United, which has been trying to stay competitive in world football while lowering costs, is expected to bring in about $300 million in its deal on Friday, but its valuation proves just how desperate the club is.
The article is rubbish. the IPO values the club at around $2.3bn. This is still rather high IMO, I think that it will more likely settle around $1.5bn by next week. The Glazers are just like most businessmen, trying to overvalue their company.
Especially trying to overprice the stock which is just crap, with worthless voting rights and no dividends. This vastly weakens the value of it.
Its not an act of desperation. Its an act of pure greed from the owners. Nothing more, nothing less.
If they wanted they could sell maybe 30 percent of the club and clear virtually all the debt in one go. But they won't, because they want to retain total control and siphon off money as they please.
Manchester United is the Glazer's personal bank. The end.
Manchester United IPO: Stock Market Debut Shows United's Desperation
erm nope.
Manchester United IPO: Stock Market Debut Shows Glazer's Desperation
FIXED!!