MUST demand full flotation
The Manchester United Supporters Trust have called on the Glazer family to launch a full flotation of the Old Trafford outfit.
The Glazer family have been looking to raise additional capital through a partial sale of the club, although reports today suggest they have shelved their planned Wall Street IPO. It is estimated the debt incurred during their leveraged takeover in 2005 has so far seen in excess of £500million taken out of United to pay assorted fees and charges. And within their prospectus, it was admitted the club's present debt of £423million could hamper them in the transfer market. Though manager Sir Alex Ferguson launched another passionate defence of the Glazers over the weekend, even moderate United fans are bewildered as to how a club who attract in excess of 70,000 supporters to every home game - and have greater commercial income than most clubs manage in total turnover - can encounter such massive problems trying to sign the best players. More militant strands of that support, who have maintained a hostile stance towards the Glazers throughout their time associated with the club, are sensing a weakness.