Man United could float on Singapore stock exchange

Shares in Manchester United could go on sale on the Singapore stock exchange under plans apparently being hatched by the club's American owners, the Glazer family, to try and raise $1bn (£600m) to help pay off their huge debts.

It is claimed that the family are in talks with Credit Suisse about selling as much as 30 per cent of the club in the far east. The IPO could take place by the end of the year.

However, they would have to sell a significant amount of the club if they are to raise as much as they hope to. A Forbes survey named Manchester United as the most valuable sports franchise in the world earlier this year, and calculated that it was worth £1.13bn. By that valuation a 25 per cent sell off would raise just under £300m.

That is only half what the Glazers hope to raise and would not pay off United's debts. In March, Manchester United's chief executive David Gill said that the club had net debt of £370m and annual interest payments of £45m.

The club was listed on the London stock exchange until 2005 when it was controversially taken over by the Glazer family, who borrowed heavily to pay for the deal. Many United fans were enraged by the takeover and have accused the family of passing the debts they acquired in the deal onto the club.

In 2010 there was more controversy when the Glazers, who also own the Tampa Bay Buccaneers and a string of US shopping malls, launched a £500m bond issue to pay off the loans they took out to fund the deal.

The Glazers are believed to value the club at £2bn.

Analyst Ben Heyhoe Flint told the BBC: "They clearly need to relieve their debt burden from a financial point of view."

He added that it made commercial sense to trade in the far east as it is a part of the world where the United brand is growing. "They're going to open the door to fans by creating a foothold in Asia. They're also going to open up channels to new sponsors. I see this as a more aggressive move to make an even bolder presence in Asia."

But back in England the news has not gone down well with fans, many of who have launched an anti-Glazer campaign and now wear green and gold to games rather than red and white.

Andy Green, a United fan who writes a blog on football finances, told the Guardian: "The key question is: where does the money end up? It doesn't benefit the fans if it all ends up in Florida... The people who should be offered the chance to buy a stake in the club are the fans. It shows a total lack of imagination not to even consider engaging with them." ·