Manchester United drops plans for Asia IPO in favour of US

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Manchester United, the world's best supported soccer club, has ditched its plans for an Asian stock market flotation and is preparing to list in the United States, according to sources with knowledge of the deal.

After first eyeing a Hong Kong IPO, the former English soccer champions had planned a US$1 billion (S$1.3 billion) listing in Singapore in the second half of last year before putting plans on hold because of market turmoil.

United, which has been English league champions a record 19 times and features players such as England's Wayne Rooney, declined to comment on the report.

The club's American proprietors, the Glazer family, are well known in the United States as owners of American football team the Tampa Bay Buccaneers, as well as First Allied Corp, which owns and leases shopping centres.