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Old 12th June 2011, 16:29   #1
TanyaT
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Default MUST would cautiously welcome full flotation of Manchester United

MUST would cautiously welcome full flotation of Manchester United

In response to reports in the Sunday Times today that the Glazers may be considering floating Manchester United on the (Hong Kong) stock exchange a MUST spokesperson said:

"If this report proves to be well founded 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 signalling a clean exit for the Glazers. Secondly the valuation would have to be realistic - something closer to 1bn GBP rather than the 1.5bn+ GBP 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."

"MUST's avowed aim - our inspirational dream - is Manchester United FC owned by the fans and run for the fans."

"Our task is to create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters."

"Since May 2005 we have renewed our efforts to encourage every United supporter to join the us and build a mass membership to share in the future ownership of Manchester United. If the Glazers choose to sell we must be ready to take advantage this time round. It has always been a regret that too few took the opportunity when Manchester United was a PLC. Undoubtedly, there is a desire from Manchester United supporters for change, with the supporters put back at the heart of the club. We can't afford to miss a second chance so we'd encourage every United supporter to join the trust."

"If we wish to persuade the Glazers to go for a full flotation, and on the UK stock exchange, then a million Manchester United supporters standing together, represented through MUST, could present a compelling argument. Supporters can join MUST online and without charge - 172,000 have already done so through our website www.joinmust.org"

Notes:
Man Utd owners eye Asian flotation
PA
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