MEDIA RELEASE: MUST reaction to speculation of $1bn flotation of shares in Manchester United on the Singapore Stock Exchange
MUST, representing 172,000 members of the Manchester United Supporters Trust:
"While on the surface, fans should welcome any reduction in the unsustainable debt burden on the club, if this Eastern promise from the Glazers seems too good to be true, it's because it probably is. The share sale will be in the Glazers' interests - to pay down their debt - not the club's. What we wish to see is a full sale to progressive owners who are interested in investing in the club's future so we can compete with Europe's finest, currently Barcelona. Ultimately, our ambition is for shared fan ownership of a better United.
The danger is that a partial flotation will provide a poisoned pill to any such progressive potential owners. And by reducing the Glazers' personal debt we will continue to be saddled with these absentee landlords.
To any United fans considering buying shares at the Glazers' initial offer price- buyer beware."