It was interesting to read that Manchester United Football Club has been floated on the New York Stock Exchange. Manchester United is a heavily indebted soccer club. The Glazer family who own the club borrowed the money to buy the club, then transferred the debt onto the club. Assuming that any money made from the flotation will go to the Glazer family, the debt will be transferred to the share owners. I wonder whether anybody buying the shares are aware that what they are buying is actually a share or shares of the debt?
Good Bye and Good Luck to them and the rest of until the next time. Sleep well
Knight Owl
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