Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

MUST boss welcomes Man Utd flotation news

Mon 13th Jun 2011 | Clubs Ownership

Manchester United’s owners the Glazer family are reportedly considering a Asian stock market flotation worth in the region of £1.7bn.

A report by the Sunday Times yesterday suggested that the Glazers’ hope to double the amount they invested in 2005 by floating on the Hong Kong stock exchange given the club’s mass appeal in the region.  

MUST chief executive Duncan Drasdo gave cautious welcome to the news saying:

"If this report proves to be well founded the prospect of a flotation of Manchester United is one that many supporters would cautiously welcome because it could be an opportunity for supporters to once again share in ownership of their club.”

However, Drasdo stated he held three immediate concerns with the proposed flotation.

“Firstly that this would have to be a full IPO signalling a clean exit for the Glazers,” he added.

“Secondly the valuation would have to be realistic - something closer to 1bn GBP rather than the 1.5bn+ GBP that the Glazers seem to feel is possible.

“Thirdly shares should be freely available to all MUFC supporters and certainly floated on the UK market to maximise accessibility."

MUST have long made their dislike of the Glazers’ ownership of Manchester United known and were instrumental in promoting the Green and Gold campaign, which has seen fans war the original colours of the club’s founding team Newton Heath.

A consortium of Manchester United fans called the Red Knights made an unsuccessful bid to buy the club in 2010 after the Glazers’ insisted the club was not for sale.

"Of course many supporters would hate to see the Glazers walk away with a huge profit but in the end it isn't about them. It is about what is best for Manchester United - the Football Club and its supporters,” Drasdo continued.

“Until their drain on our finances is removed we will never be able to compete on a level playing field with the best in the world.

Drasdo believes that fans should be able to buy ordinary shares in the club and have a say in the decision making process of the club.

"MUST's avowed aim - our inspirational dream - is Manchester United FC owned by the fans and run for the fans."

"Our task is to create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters."

"Since May 2005 we have renewed our efforts to encourage every United supporter to join the us and build a mass membership to share in the future ownership of Manchester United. If the Glazers choose to sell we must be ready to take advantage this time round. It has always been a regret that too few took the opportunity when Manchester United was a PLC. 





If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk



Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Massimo Cellino Leaves Leeds After Takeover

Wed 24th May 2017 | Clubs Ownership

Andrea Radrizzani has completed his takeover of Leeds United after purchasing Massimo Cellino’s 50% stake in the club. Radrizzani, who purchased 50% of the club in January, has acquired the...

EFL Approve Chinese Investment At Reading

Wed 17th May 2017 | Clubs Ownership

EFL approval granted as Chinese investors Dai Yongge and Dai Xiu Li take majority shareholding of club. Reading Football Club has confirmed Chinese brother and sister, Dai Yongge and Dai Xiu Li, have...

Hartlepool United Chairman Announces Resignation

Thu 4th May 2017 | Clubs Ownership

Hartlepool United’s Chairman, Gary Coxall has announced his resignation from the League Two club. The club faces relegation from the Football League for the first time in their history this...

Sam Rush Sacked By Derby County

Thu 4th May 2017 | Clubs Ownership

Sam Rush, President and Chief Executive Officer of Derby County has been sacked by the club it was announced yesterday. A brief statement released by the club read: “Derby County Football Club...