Almost immediately after announcing a seven-year shirt sponsorship deal with Chevrolet worth an estimated £200 million ($312.6M USD), the Glazer family pushed ahead with its much maligned plan to unleash a Manchester United IPO on the New York Stock Exchange. From the first rumor of the move, fans and media have been united in questioning it. And now financial experts agree that it appears to be a blatant attempt to dupe investors into giving the club's unpopular owners/debt masters their money for very little (if anything) in return.
In the video above, Andy Green of the well-respected andersred blog talks to Sky News about how Alex Ferguson's blind loyalty to the Glazers is being financially rewarded, that the Glazers chose to list the IPO on the NYSE because their shares would hold far more value than those of all other investors ("They'll sell 10 percent of the club and they will keep 98 percent of the votes") and that the valuation of club is very much inflated.
Guardian financeRead More »from Experts agree: Manchester United’s IPO is a terrible investment