David Prosser: The wrong time to float a football club
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Outlook Manchester United's flotation in Singapore moved a step closer yesterday, with several sources suggesting the club has now filed an IPO application with the stock exchange there. To which all one can say is, best of luck with that.
Football folk aren't always renowned for their worldliness, but it presumably hasn't gone unnoticed at the club that global markets are just a tad volatile right now. Man United's chances of getting an IPO away before Christmas – thought to be the aim – look about as realistic as the pre-Champions League final promise that the team was good enough to compete with Barcelona.
Data published today by PricewaterhouseCoopers reveals that the market mayhem has already taken its toll on global IPOs. One in three new issues around the world has been pulled over the past fortnight, with companies reluctant to try their luck during such difficult times. Nor does PwC expect the outlook for the IPO market – depressed even before the latest turmoil – to improve during 2011.
There is much to commend the idea of selling off a stake in Man United, both from the perspective of the club and its owners, the Glazer family. But probably not this season.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments