Share deal will benefit Glazers
Manchester United fans are once again angry with the Glazers who own the club. After some delays they have now filed their initial public offering on the New York stock exchange and are hoping to sell 19.1m shares.
However, originally the offering was supposed to be used entirely to reduce the club's debt burden. The latest plan sees half the money raised going to the Glazer family, estimated at £150m.
In any case investors are expected to be wary of the offer which will not pay dividends. The club has yet to file final year accounts which show the effects of exiting the Champions League at the group stage.