Man U: Touted to be raising US$1b in a Singapore IPO in 4Q11 mainly to pay off its debt. This fund raising could be due to new regulations which require clubs to break even from the start of 2013/14 season or risk being expelled from European club competitions.
The club, as of last reported date, is GBP717m in debt with approx GBP460m in interest, fees and charges since its major shareholders came on board. As of last quarter, its rev was GBP75.2m up 1% yoy.
Man U was previously listed in London but was taken private by its current major shareholders the Glazer family after a GBP790m takeover in 2005 and was ranked by Forbes as the most valuable football team at US$1.86b. As of now, co has not made any official announcement with regards to its IPO.
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