The most recent rumours suggest that the owners of Manchester United Football Club are being urged to float the club in Hong Kong as it will bring better returns than when floated in London. Perhaps my financial bodyguards will help me on this one.
Bankers are said to have told the Glazers that the Premier League champions could be valued at as much as £1.7bn if listed in Asia, where the team have carefully built up a large following. That is thought to be substantially higher than the price that a similar move in London could attract, and would offer the American property tycoons the chance to double their money, having bought the club for £790m in 2005.
The article goes on to quote the Manchester United Supporters Trust as having reservations about the sale being made in Hong Kong. City am also suggest that any bid will interest The Red Knights, the consortium of wealthy United fans led by Jim O’Neill of Goldman Sachs.
Metaphors to leak with
Opposition to The Glazers led to the formation of MUST opposing the high debts within the owners’ financial model. Qatar Holding, the investment arm of the Gulf kingdom, have also been linked to bidding for the club. More cynical voices have suggested that leaked stories are too often exercises in kite-flying, testing the waters, or whatever metpahor you prefer for information revealed by interested parties for their own ends.
To go more deeply
Check out the stories in LWD on MUFC, The Red Knights, MUST, and The Glazers in earlier LWD postings.