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Manchester United hoping for £610 million in share sales in Singapore

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According to reports, Manchester United hope to raise in the region of $1 billion (£610 million) by selling shares on the Singapore stock market. Depending on the conditions of the market, the Wall Street Journal reveals that the club hopes to carry out an initial public offering (IPO) by end of the current year. Prior to the Glazer family takeover in 2005 for a deal in the region of £800, United had been listed on the London Stock Exchange. Reports have speculated that since the takeover, the club would be selling shares in Hong Kong -- now that attention has apparently shifted to Singapore. United have yet to comment on these reports.

Just a month ago, Forbes rated United as the richest sporting club in the world with an estimated valuation at more than £1.65 billion. This certainly represents a nice profit on the club for the Glazers if they were to sell at that price. The current owners have been unpopular due to their leveraged buy-out resulting in nearly £500 million of debt. It is reported that £45 million a year is required in payments to service this debt. For analysis of United's finances, be sure to check out this detailed piece by the excellent Swiss Ramble blog.