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Manchester United Takes Step Towards U.S. IPO

Wayne Rooney - P 2012

The British soccer club, owned by U.S. businessman Malcolm Glazer, last year dropped plans to go public in Singapore.

British soccer club Manchester United has taken another step towards a U.S. stock market listing, selecting a team of bankers to manage its IPO, the Wall Street Journal reported.

STORY: Manchester United Plans $1 Billion Float in Singapore

One of the richest and most successful clubs in world soccer, Manchester United, whose star players include Wayne Rooney, last year called off plans for a $1 billion IPO in Singapore due to stock market volatility.

It wasn't immediately clear when exactly the club could seek to go public in the U.S. where its owners live.

The club is owned by the Glazer family, led by U.S. businessman Malcolm Glazer, which also owns the NFL's Tampa Bay Buccaneers.

The Glazer family has faced criticism from long-time fans since buying control of the club in 2005. Anti-Glazer chants and songs are a regular occurrence. A couple of years ago, a group critical of Manchester United's foreign ownership even prepared a buyout bid, but the Glazer family said it wasn't interested in a sale.

Manchester United has won numerous English Premier League and European titles, but lost out in dramatic last-minute season this season to rivals Manchester City.

The Journal said Manchester United representatives declined to comment on the club's IPO plans.

Email: Georg.Szalai@thr.com
Twitter: @georgszalai