If they can pull this off, the Glazers and ManUtd will be in great shape I think.
I say pull it off as it seems kind of criminal - raising 1bn while maintaining control with non-guaranteed dividends.
Quote:
The balance of the shares would be in the form of non-voting perpetual preference stock without dividend guarantees or the right to sell the shares back to the club – both common features of preference share issues – according to people with knowledge of the transaction.
However, the preference shares would rank ahead of the ordinary shares in the event of an insolvency, potentially making them attractive to institutions such as Temasek, the Singapore state investment agency, which is considering taking a large stake as a cornerstone investor.
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