Manchester United: Ferguson denies share float windfall

Sir Alex Ferguson has denied speculation that he stands to benefit financially from Manchester United's imminent share flotation in New York.

There were reports that club employees would benefit from a share incentive scheme, including Sir Alex.

"There is not a single grain of truth in this allegation," he said in a statement sent to the Manchester Evening News and other papers.

The club plans to raise as much as $330m (£210m) in a share listing.

A Manchester United spokeswoman confirmed the statement, but refused to release a copy to the BBC.

The club has been controlled since 2005 by billionaire US sports investors the Glazer family, who also own the Tampa Bay Buccaneers American football team.

In documents filed with the Securities and Exchange Commission, the football club recently said it would sell 16.7 million shares at between $16 and $20 each, raising as much as $330m for a 10% stake in the club.

Manchester United was recently called the most valuable club in sport, worth $2.23bn, according to Forbes magazine.  (BBC.co.uk)


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