Manchester United are ranked by Forbes as the most valuable sports team in the world. They are favorites to win the English Premier League title and spent a combined £60 million over the summer on Ashley Young, Phil Jones and David De Gea. They have a state of the art stadium with the largest capacity in English football and their revenues are higher than any other team in the world. Surely, what Manchester United needs more than anything in the world is another $1 billion in funding, right?
Manchester United Weighing Up Singapore IPO, Could Raise $1 Billion
Manchester United is making yet another ploy in the Asian market, reportedly issuing an IPO on the Singapore stock exchange
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That’s exactly what they’re seeking, as the club plans to issue an initial public offering in Singapore in the fourth quarter of 2011. The club was reportedly considering a listing in Hong Kong, but has changed their plans and now plans to go through Singapore in their further attempts to tap the Asian market. The club was previously listed on the London stock exchange, but was delisted in 2005 when the Glazer family bought the club.
Between their sky-high revenues and their immense popularity in Asia - with Singapore being no exception - there's no reason to believe that this won't be a wildly successful venture for Manchester United. Between this, their frequent North American tours and their purchase of 'Chicharito' Javier Hernandez, United continues to pave the way in creating great revenue streams across the globe.
For more on the Red Devils, visit SB Nation’s Manchester United blog The Busby Babe.
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