LONDON – Manchester United will open an office in the United States to target commercial sponsors.
Vice chairman Ed Woodward said Tuesday the record 19-time English champions will open the office on the East Coast as they look to raise more cash to reduce the club's debt. He declined to name the city.
The Glazer family, which owns United, sold 8.3 million shares on the New York Stock Exchange in August with the aim of raising around $110 million. But Woodward says the New York stock listing is not a precursor to selling the club the Glazers bought in 2005.
Woodward says "the answer is 'not for sale' ... I don't see them selling completely for many, many years."