United Updates

Manchester United is to sell off a significant stake in the club in Singapore to partly pay off its gross debts of £515m, the BBC has learnt. BBC sports editor David Bond says it is understood the club has now lodged a listing application with the Singapore Stock Exchange. Our correspondent says it could raise between £400m and £600m for the club. It is understood the club wants to complete the listing by the end of the year. The owners, the Glazer family, removed the Old Trafford club from the London stock market following their successful take over of the Old Trafford club in 2005. A partial share sale, of between 25% and 30%, would also mean that no outside person could take control of the club.

Wesley Sneijder is close to joining Manchester United after the Glazers sanctioned the £35m bid to bring the talented Dutchman to Old Trafford. It is reported that Sneijder was forced to compromise his demands of £250,000-a-week and instead will earn £190,000 per week and is close to completing a move the the BPL champions. Sneijder is seen as a replacement for the recently retired Paul Scholes and even though Inter Milan were reluctant to sell, a £35m was just too good a deal to turn down.

The Glazer family, who owns Manchester United are reportedly looking to list Manchester United on the Hong Kong stock exchange. If done, the deal could see United being valued at £1.7 billion and could also provide a profitable exit for the Glazers who bought the club in a highly leveraged £790m, although the Glazers may retain a stake in the club and use some of the cash from a share offering to reduce the debt of £490m. This news might excite fans who have moved against the Glazers for saddling the club with over £500m debt and caused a marked reduction in transfer spending.