United may float in New York
Manchester United are considering shifting their initial public offering from Singapore to New York. Apparently underwriters have warned the Glazers that it would not be wise to proceed with an Asian listing given market volatility.
A US listing would give the Glazers more operational involvement, but a shift from Singapore would deprive them of the opportunity to fully exploit the brand in the rapidly growing Asian football market.
Independent football analysts and blogger Andy Green commented that a move to the US 'looked like desperation' on the Glazers' part. 'First it was Hong Kong, then it was Singapore and now New York. The Glazers assumed they would get a high price in Asia and they haven't - I am not sure they will in the US either.'
Writing in the Lombard column in the Financial Times, Jonathan Guthrie commented, 'Expect an amusing section in the prospectus explaining that although "football" is different from gridiron, it is not exclusively a game for teenage girls.'