So what happened to all the Manchester United IPO chatter? Last we heard the Glazers were in the middle of trying to price a deal in Singapore to sell between 25-33% of the club into the market.
The market indigestion of last fall, caused by the unpalatable downgrade of the United States’ credit rating and exacerbated by Europe’s continuing refusal to eat its peas, dropped these plans straight into the tank. Since then equity and credit markets have largely recovered their losses and are off to their best start to a year since 1994. I updated the graphic from last time to show market performance and some key events which have occurred since:
As it is likely that the Red Devil IPO-talk will start cooking again I thought it might be valuable to review the background and details of the transaction.