Hong Kong fans of Manchester United could soon own a piece of the club. The Sunday Times reported this week that the Glazer family, which owns the English Premier League soccer team, could list the company on the Hong Kong stock exchange in a move that would value the club at around £1.7 billion.
Analysts reckon the club’s huge fan base in Asia should drive demand for any share offering. But whether investing in Man U makes sense is up for debate. Sing Tao Daily says just because just because you are a fan doesn’t mean you should invest in the stock, especially as the club made losses of £79 million last year, largely as a result of its debt mountain. “Just because I buy their jerseys and watch their games doesn’t mean I’ll buy their stock,” one fan told Ming Pao Daily.
South China Morning Post columnist Tom Holland also poured cold water on the rumour: “Britain’s Sunday papers are not the most reliable source of business news. If they were, then HSBC would have relocated to Hong Kong at least six times over the last couple of years.”
© ChinTell Ltd. All rights reserved.
Sponsored by HSBC.
The Week in China website and the weekly magazine publications are owned and maintained by ChinTell Limited, Hong Kong. Neither HSBC nor any member of the HSBC group of companies ("HSBC") endorses the contents and/or is involved in selecting, creating or editing the contents of the Week in China website or the Week in China magazine. The views expressed in these publications are solely the views of ChinTell Limited and do not necessarily reflect the views or investment ideas of HSBC. No responsibility will therefore be assumed by HSBC for the contents of these publications or for the errors or omissions therein.