Red Knights of MUFC
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.
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in Dilemmas of leadership one of the context materials were about Manchester club and that was very interesting when you read and know more about this legendary club.
the blog about selling the club – from leadership perspective – raise several questions
what would happen if the club is NOT sold , is it doing fine recently if yes then why the management of the club are vulnerable for sail , are they changing the interest from being a well known and beloved club into total business matter
what if an Arabic country “Qatar” is the one to buy , is the shape , position of the club will be shaken , are they going to mange it in the right track , if yes and moved the club into a better position doesn’t that mean that the current leadership is weak and were driving the club in th wrong direction, what about its symbolic position for fans, UK people and international fans who are the true supporters and the ones who really improved the value of the club
Qatar would be very welcomed by most supporters who fear eclipse of club by the wealth of owners of Mancxhester City and of Chelsea.
Vulnerability to a sale is due to debt levels and widely-held beleifs that present owner will be very open to the best offer.
The story re-emerged, with Singapore the preferred exchange for a $1 billion IPO, in August 2011. More substantive evidence of debt restructuring and preparing for longer-term sale.