News24

Man Utd to open office in US

2012-10-23 16:08

London - Manchester United will open an office in the United States to target commercial sponsors.

Vice chairperson Ed Woodward said on Tuesday the 19-time English champions will open the office on the East Coast as they look to raise more cash to reduce the club's debt. He declined to say in which city the office would be located.

Woodward says "the US we view as a really good opportunity."

The Glazer family which owns United sold 8.3 million shares on the New York Stock Exchange in August with the aim of raising around $110m.

But Woodward says the New York stock listing is not a precursor to selling the club the Glazers bought in 2005.

Woodward says "the answer is 'not for sale' ... I don't see them selling completely for many, many years."

AP