Man Utd News: Glazers Set To Sell?
The Glazer family look to pay off debts and sell Man Utd for a tidy sum.
Click Manchester are reporting that David Bick, chairman of Square1 Consulting and an expert in football finance, has claimed that the Glazers are preparing to sell Manchester United. Bick believes that the Glazer family's decision to make 10% of the club's shares available on the New York Stock Exchange next week is a precursor move, as it should add approximately $300m to the club's worth, bringing the total value to just over a staggering £3bn. While Bick feels that this would make the club overvalued, this is precisely the reason why the Glazers might be tempted to make a quick sale. It isn't a move that would be met with much protest by many Man Utd fans, and they have been frequently derided throughout their runs as owners since they took over in 2005. Old Trafford manager Sir Alex Ferguson, however, has frequently jumped to their defence. Before the sale can go through, though, a heap of debts that the club owes will first have to be cleared. These are said to amount to a massive £475m, and though £75m will be cleared simply by floating the club on the NYSE, it leaves a lot to take care of before a sale can move forward.