Filed under: Manchester United, Premier League, Football
Manchester United fans know better than to rejoice prematurely following reports that the Glazers are considering floating the club on the Hong Kong stock market.Supporters' anger towards the owners - whose debt repayments ensured that an operating profit of £91 million still resulted in a £79 million loss for the club last year - reached a peak at the start of last year.
Most United fans will be waiting for concrete developments after so much false hope in the six years since the Florida-based family took over at Old Trafford.
But the suggestion that the Glazers could raise as much as £1.7 billion if they float in Hong Kong - which is a far more buoyant market than London - should not preoccupy those supporters.
When the Glazers arrived at United, paying £790 million for the club in 2005, they had no intention of walking away without a huge profit.
They will always be loathed in M16 but fans should really be wondering what floatation would mean for the club's future.
The Manchester United Supporters Trust (MUST) believe flotation has to be good news as long as some key boxes are ticked.
A spokesman said: "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 three immediate concerns spring to mind.
"Firstly that this would have to be a full IPO (Initial Public Offering) signalling a clean exit for the Glazers.
"Secondly the valuation would have to be realistic - something closer to £1 billion, rather than the £1.5 billion plus 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.
"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. 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."
It is unclear what flotation would mean for the club's debts but their remova from the balance sheetl would put United back into a position of real strength.
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