Haute 100 Update: Malcolm Glazer Could Raise £400M with Partial Sale of Manchester United
Six years ago, Malcolm Glazer purchased the entire Manchester United club and now, could be gearing up to hit the stock market once again. It has been reported that Glazer and his family are preparing to launch an initial public offering (IPO) that would allow the public to buy shares in the club.
This will mean that the Glazers will be putting up a quarter of their shareholding for sale and could potentially raise £400 million ($656 million) for the club – well needed to alleviate the club’s current debt. The move would also lend the Glazers more control over the club, as it would then become more difficult for potential buyers to oust them.
This could be a very financially profitable situation for the club, even more so as this will also mean that the Glazers could amp up their potential profits by being able to pay shareholders – which include themselves – dividends accordingly with profits. This fundraising move would be successful in raising hundreds of millions to benefit Manchester United.
Our Haute 100 list details the accomplishments of the most influential people in each of our markets. To see the entire Haute 100 Miami list, click here.
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