NEW YORK (AFP)
Storied British football club Manchester United filed papers in
the United States Tuesday to raise money by selling shares on the
In the filing with the Securities and Exchange Commission,
Britain's all-time top Premier League team said it would raise up
to $100 million in the initial public offering.
The team, controlled since 2005 by the Glazer family, billionaire
US sports investors, has struggled in recent years with heavy
debts despite what is arguably the world's strongest global fan
base for a football club.
"We intend to use all of our net proceeds from this offering to
reduce our indebtedness," the IPO prospectus said.