Glazers plan to float Manchester United on Hong Kong stock exchange

Manchester United's owners are preparing to float the club on the Hong Kong stock exchange, according to reports in the Manchester Evening News.

The plans have been 'cautiously' welcomed by the Manchester United Supporters Trust, which has campaigned against the Glazer family’s ownership of the club.

Duncan Drasdo, chief executive of the trust, claimed the flotation could be one route by which supporters could regain a stake in the club. But he also raised some concerns.

Mr Drasdo told the MEN: “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 rather than the £1.5bn that the Glazers seem to feel is possible.

“Thirdly, shares should be available to all MUFC supporters and floated on the UK market to maximise accessibility.

“Many supporters would hate to see the Glazers walk away with a huge profit, but it isn’t about them. It is about what is best for Manchester United – the club and its supporters.”

The Glazer family is reported to have spoken to several investment banks with a few to floating the Premier League champions on the Hong Kong stock exchange, according to reports.

Bankers reckon the move would value the club at £1.7bn – more than double what the Glazers paid for United in 2005.

The club's fanatical Far East following could further inflate the price in comparison to listing on the London stock exchange.

Successful recent floats on the Hong Kong stock exchange by consumer goods brands have also pushed the Glazers in that direction. But sources claim the discussions are still at an early stage.

Mr Drasdo added: “If we wish to persuade the Glazers to go for a full flotation then a million Manchester United supporters standing together, represented through MUST, could present a compelling argument.”

MUST have directed the popular 'green and gold' protests at Old Trafford and claim to have 172,085 members.

The new developments could also flush-out fresh interest from the Red Knights consortium of potential buyers.