Date: 4th July 2012 at 4:58pm
Written by:

The capitalist market continues to drive a wedge between our football club and the working man.

With the club saddled with a huge debt, courtesy of the Glazer family, the press reports this morning that moves are afoot to reduce the debt that the press report stand at something like £423 million.

It looks like some shares are going to be floated on the New York Stock Exchange, a move which it is hoped will brig in a cool £64 million.

But any flotation, on the New York market would still leave the Glazers in control with a two-tier share system whereby they`d retain control through something called Class B shares which will have 10 times the voting power of the shares sold to the public.

As a result of the impending New York stock flotation, it`s also being suggested that the club will now become a wholly owned subsidiary of Manchester United Ltd, a company registered in the Cayman Islands.

Not sure what it all means for those who support the team but there you go!


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