Manchester United put New York stock flotation plans on hold - report

The Red Devils are believed to have temporarily postponed their financial plans amidst concerns that the US markets are too unstable

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Manchester United have reportedly halted their plans to float the club on the New York stock exchange, according to The Guardian.

The Manchester club have been attempting to list the company's shares for some time, and have contemplated other markets in the past.

Initially the plans were to float the club in the Far East, on the Hong Kong and Singapore exchanges, but that idea was thrown out due to market volatility.

The plans were therefore moved to the US, to what was thought to be a more stable market, but recent slumps in world markets have led United to temporarily hold the idea.

With the club's debt currently residing at £423m, it was thought that the flotation would raise funds to try and reduce this debt, which fans of the club have been critical of since the Glazer family took over in 2005.

The club are currently in China, as part of their pre-season preparations, having kicked off their tour in South Africa.

United beat Shanghai Shenua 1-0 on Wednesday with new signing Shinji Kagawa scoring the only goal of the game.