Manchester United to raise $330m

MANCHESTER United has announced plans to raise up to $330 million (£210m) by selling shares in the club.

The Premier league giant, owned by the American Glazer family, said it will sell 16.7 mil-lion shares on the New York Stock Exchange, valued between $16 and $20 each.

United, among the best-supported clubs in the world and valued at $2.25 billion recently, will use the proceeds to repay debt. The club currently has £437m of debt, mostly from loans made to the Glazer family to fund their takeover.

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