The FINANCIAL TIMES' Kevin Brown cites sources as saying that preparations for Manchester United's $1B IPO on the Singapore Stock Exchange "have been put on hold because of market volatility, but the offering may still go ahead in the fourth quarter." The sources said that "discussions are continuing with cornerstone investors such as Temasek, the Singapore state investment agency, in spite of claims by the Manchester United Supporters’ Trust that talks have broken down." Advisers reportedly are "continuing to work on the IPO, which was initially expected to be completed in mid-October, with about one-third of the equity being offered, mostly in the form of non-voting preference shares" (FINANCIAL TIMES, 9/21).
IN & OUT: CHL Allen Americans Owner Doug Miller yesterday said that he "has interest in possibly exceeding Tom Gaglardi's $267 million bid to buy the Stars." Miller said that he "wants to at least remain in the picture and take his time studying a possible bid." Conversely, Mavericks Owner Mark Cuban said that he "does not" have interest in bidding for the Stars. Earlier this week, former MLB Rangers Managing General Partner & CEO Chuck Greenberg indicated that he is "interested in studying a possible bid" (DALLASNEWS.com, 9/20).
GOLD RUSH: A SAN JOSE MERCURY NEWS editorial states the 49ers' investment of $70M to buy the Great America theme park "can only mean" that team President & CEO Jed York is "fully committed to the South Bay move." The 49ers "still have huge hurdles to clear before they can start building" their proposed Santa Clara stadium, "including securing financing in this uncertain economy." But purchasing the nearby theme park "eliminates a big obstacle" (SAN JOSE MERCURY NEWS, 9/21).
