The Glazers "have held talks with several investment banks" about listing Manchester United on the Hong Kong stock exchange, according to Marlow & Dey of the LONDON TIMES. Bankers have told the Glazers that the listing "could value the club" at approximately $2.7B (all figures U.S.), more than double the $1.28B they paid for the EPL club in '05. A "recent flurry of floats on the Hong Kong stock exchange by upmarket consumer goods companies such as the luggage firm Samsonite, has prompted the family to consider a listing." Sources insisted that the "plans were at an early stage and may still come to nothing." The Glazers "are believed to be keeping an eye on the imminent $16 billion flotation of Prada," and if Prada's shares "perform well, the Glazers are expected to show more interest in the plan." Marlow & Dey reported a float is thought to be the "only exit the family is willing to consider," and the Glazers have "ruled out a sale to another private investor" (LONDON TIMES, 6/12). In London, Jonathan Russell notes it is thought that ManU "could generate a significantly higher valuation in Hong Kong than London." Despite being the "most profitable club in the Premiership, and the most successful, Manchester United is regularly pushed into the red because of its huge interest repayments" (London TELEGRAPH, 6/13). ManU in a statement said, "The club does not comment on speculation" (BLOOMBERG NEWS, 6/12). The Manchester United Supporters Trust, long opposed to the Glazers' ownership, said it "cautiously" welcomed the report. MUST CEO Duncan Drasdo: "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" (MANCHESTER EVENING NEWS, 6/13).
