The Premier League champions plan to raise money in Asia to meet financial fair play. Is this the best way forward for the Old Trafford club?
Much more than a case of raising funds where cash is plentiful, Manchester United's plan to seek US$1 billion (Dh3.67bn) on Singapore's stock market is a marrying of financial sense and global supporter sentiment - and a resounding indication of where the club sees future growth.
The English Premier League club, delisted from London's stock exchange in 2005 when it was bought by the American Glazer family, is now saddled with debts that have led to a vilification of the Glazers among fans.
It has also left United in danger of struggling to meet "Financial Fair Play" rules put forward by Uefa, football's European governing body.
And while the Glazers have made it clear they have no intention of selling, a flotation in Singapore makes perfect sense on many fronts: it will help reduce the debt burden; it targets Asia's strong economic and investment growth and, crucially, it will deepen United's links with a region ripe for expanding the club's powerful global brand.
"With two-thirds of their fans residing in Asia, two-thirds of the world living in Asia ... there's an attractive audience base to tap into," Ben Heyhoe Flint, a Singapore-based sports sponsorship expert, said.
"Couple that with high growth markets and high growth brands, and there's a valid commercial reason [for listing in Singapore] in that they are getting closer to potential sponsors in Asia where they've had success before," added Flint, the head of Asia-Pacific for sponsorship consultants Fuse.
At an estimated $1bn, the Initial Public Offering (IPO) would be the world's largest for a sports organisation, but small compared to other businesses. Companies typically sell a quarter to a third of their shares in an IPO, giving Manchester United a potential value of up to $4bn.
"Will people invest? If they open up the IPO to individual investors, and not institutional as is rumoured, then I think you'll find that yes, fans will be drawn into making an emotional investment into their beloved club," Flint said.
"From an institutional point of view, we've seen serious interest in ownership of Premier League clubs from Singapore and Thailand recently so I'm sure it will also draw interest at that level."
Last year Peter Lim, the Singapore billionaire, made a £320 million (Dh1.9bn) bid to buy Liverpool, but later withdrew the offer after the club went into the hands of New England Sports Ventures following a court ruling.
Lim separately has exclusive rights to own and operate a chain of Manchester United-themed restaurants in Asia.
Not everyone is so confident investors will be eager to pour their money into England's most successful club, however.
"I guess Manchester United is trying to ride their popularity in Asia," Roger Tan, the head of research at SIAS Research, said.
"Frankly I do hear that football clubs are not usually profitable, so if they are really listing in Singapore, I would suggest potential investors look closely at the numbers. Investing in a club is very different from supporting a club."
United's 2010 full-year results showed gross debt attached to the club of £522m, with a net loss of £84m.
Hong Kong, which had been touted as an alternative listing venue, bars unprofitable companies from listing on its exchange. Football enjoys a massive following among Singapore's 5.1 million inhabitants. The Premier League is a huge draw on cable television and there are scores of Liverpool and Manchester United fan clubs across the island.
"Of course not," said Ernest Teng, a United fan and a sales manager in an IT firm in Singapore when asked if he would buy shares.
"The $4bn valuation is crazy. Bottom line is the Glazers will still be in control. All I want to see is for them to sell out and not burden the club with so much debt."
The IPO of a globally recognised brand such as United would be a coup for Singapore, which has been competing with Hong Kong for international listings.
"Obviously it's a big brand name, there will be some novelty effect, but whether investors will go for it will depend on the offer price, whether they have some dividend yield guaranteed," Andrew Chow, the head of research at UOB Kay Hian, said.
"People will be interested to listen to what they have got to offer, but whether people will want to put their money in is a different ball game."
English football clubs flirting with the region is nothing new - it was, after all, English engineers, builders and bricklayers who helped create the foundations of so many overseas clubs and leagues that made football a truly global game in the late 19th and early 20th centuries.
Today, the trailblazing is a little different, based on a multi-billion dollar consumer market.
The Premier League has been aware of the riches that await in Asia, instigating the officially-sanctioned Premier League Asia Trophy in 2003 and holding it every two years since then.
Apart from that tournament, United, Chelsea, Arsenal, Liverpool and others have all toured Asia, playing to huge crowds, spreading the word, selling replica shirts and reaping huge profits.
Clubs have also scouted for the best Asian players who have, in cases such as Park Ji-sung at United or Chung Lee-yong at Bolton Wanderers, forced their way into the first teams in England.
Richard Scudamore, the chief executive of the Premier League, makes no secret of the importance Asia plays in the Premier League's financial success story.
"The passion for football and especially the Premier League in Asia is as intense as it is back in England, if not more so," he said in recent round-table meetings.
"The reason our clubs go to Asia and we hold the Asian tournament is for them to see their heroes live and for the clubs to exploit their market potential as much as they can. It is a natural two-way relationship."
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Third Test
Day 3, stumps
India 443-7 (d) & 54-5 (27 ov)
Australia 151
India lead by 346 runs with 5 wickets remaining
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
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10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
Company%20profile
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The specs: 2018 Mazda CX-5
Price, base / as tested: Dh89,000 / Dh130,000
Engine: 2.5-litre four-cylinder
Power: 188hp @ 6,000rpm
Torque: 251Nm @ 4,000rpm
Transmission: Six-speed automatic
Fuel consumption, combined: 7.1L / 100km
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
Zayed Sustainability Prize
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
SOUTH%20KOREA%20SQUAD
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The%20specs%3A%202024%20Mercedes%20E200
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COMPANY%20PROFILE
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COMPANY%20PROFILE
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UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
ALL THE RESULTS
Bantamweight
Siyovush Gulmomdov (TJK) bt Rey Nacionales (PHI) by decision.
Lightweight
Alexandru Chitoran (ROU) bt Hussein Fakhir Abed (SYR) by submission.
Catch 74kg
Omar Hussein (JOR) bt Tohir Zhuraev (TJK) by decision.
Strawweight (Female)
Seo Ye-dam (KOR) bt Weronika Zygmunt (POL) by decision.
Featherweight
Kaan Ofli (TUR) bt Walid Laidi (ALG) by TKO.
Lightweight
Abdulla Al Bousheiri (KUW) bt Leandro Martins (BRA) by TKO.
Welterweight
Ahmad Labban (LEB) bt Sofiane Benchohra (ALG) by TKO.
Bantamweight
Jaures Dea (CAM) v Nawras Abzakh (JOR) no contest.
Lightweight
Mohammed Yahya (UAE) bt Glen Ranillo (PHI) by TKO round 1.
Lightweight
Alan Omer (GER) bt Aidan Aguilera (AUS) by TKO round 1.
Welterweight
Mounir Lazzez (TUN) bt Sasha Palatkinov (HKG) by TKO round 1.
Featherweight title bout
Romando Dy (PHI) v Lee Do-gyeom (KOR) by KO round 1.
