Manchester United 'to delay IPO plans?
Manchester United’s planned initial public offering has been put on hold amid continued instability in global markets, according to reports.
The Glazer family, which purchased the English football club in a controversial buyout in 2005, is willing to wait until next year if necessary before listing United on the Singapore stock exchange, the Financial Times said.
News that the club was planning an IPO first emerged in August, with reports suggesting it would go ahead in the fourth quarter.
It is thought the club is still aiming for an IPO later this year, but this will be dependent on market conditions.
However, any delay is likely to fuel speculation of a Qatari takeover at the club – last week, a British newspaper said the country’s royal family was planning a £1.6 billion (€1.83 billion) bid for the Old Trafford team.
United made a record operating profit of £110 million, with turnover jumping 15.7% to £331.4 million in the year to 30 June.