ManU IPO Offers Inside Look

ManU directors Bryan Glazer, right, and Avram Glazer are hoping to lift the club's $664M debt.

In the seven years since the Glazer family bought ManU, transparency has not featured significantly in their ownership, according to Roger Blitz of the FINANCIAL TIMES. But even skeptical fans of the Premier League giants may have welcomed the prospect of a U.S. flotation to "take a closer look under the bonnet." What emerges from the prospectus is "a mixture of just how secretive the Glazers have become" as custodians of one of sport's biggest brands and how "increasingly anxious they have become to raise cash." Four factors stand out from the prospectus -- the reorganisation of Red Football, the club's parent into a newly formed holding company registered in the Cayman Islands;