Old Trafford club will reduce debts dramatically.
Manchester United have been cleared to launch a floatation on the Singapore Stock Market, which could raise up to £600million.
Permission was granted today, so United are now free to open dialogue with potential investors, but exact details of the plans are yet to be announced.
It is believed the Glazer family are looking at selling 25% of the club, which they hope will net them £600million.
Two-thirds of United’s offering will be in preferred shares, which may carry at least double the dividend of ordinary stock while lacking voting rights.
That dual-share structure would allow the Glazer family to retain control of the football club after the IPO.
Opponents of the Glazer regime have already called for the proceeds from any partial sale to be used to clear the club’s debt.
But it is not known how the American owners managed to pay off £220million of payment-in-kind notes in November last year.
Meanwhile, another twist in the saga has emerged following claims the Qatari Royal Family are set to have another go at buying the Old Trafford outfit.
The Glazer family are believed to have snubbed previous interest from the mega-rich Middle East country, but with market conditions currently volatile, they may look more favourably on a deal now.