Manchester United is preparing to sell shares on the Singapore stock exchange that could raise about $1 billion, according to an undisclosed person who is familiar with the plan, The New York Times reports. The Premier League champions are currently regarded as the most valuable sports team in the world.
The paper says that in the view of sports industry advisers, the Glazer family – who owns the club along with the Tampa Bay Buccaneers of the National Football League – would sell only a minority stake in the club and use some of the proceeds to pay off debt and reduce interest expenses. The owners are looking to issue shares in Asia because so many of the club’s fans are there, and the team’s popularity would allow it to potentially raise more than it would if it issued shares in London.
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Sneijder happy to take wage cut.
Wesley Sneijder is now prepared to cut his wages demand by £60,000 a week, giving a feeling that the Dutch schemer is desperate to join the English Champions any way possible, The Sun reports. Previously there were reports that the Champions League winner is asking for £200,000 a week. After this pay reduction -provided the transfer does happen – he will be second in United earners list behind Wayne Rooney who gets a reported £250,000-a-week.
Charlton backs De Gea.
After Peter Schmeichel sprang to the defence of struggling goalkeeper David de Gea, another United legend, none other than Sir Bobby Charlton, has defended the young stopper. The former England midfielder, speaking at the launch of the Laureus ‘Urban Stars’ project, said: “He [De Gea] is a great goalkeeper and we knew about that when he was coming. But you have got to remember he has arrived in a strange city, a strange country where they don’t speak the same language and they are more passionate about football than anybody, even in Spain.”
Charlton believes that Manchester United are well placed to retain the Premier League this season but expects tough competition from their city neighbours. He picked out Sergio Aguero as the danger man saying: “He is a class act and Manchester City have the wherewithal to get all the best players.”