Manchester United aim to raise £210m on New York Stock Exchange

The Red Devils' American owners the Glazers recently announced their intention to sell Class A and B shares and have now released full details of the listing

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Manchester United have released full details of their initial public offering on the New York Stock Exchange, which they hope will raise up to $330m (£210m).

The Red Devils announced their intention to float shares earlier this month in a bid to pay down the significant debt loaded onto the club as a product of the Glazer family's takeover in 2005.

The Americans bought the club for £790 million but, due to the loans used in order to make the purchase, are currently attempting to fight £423m worth of interest repayments.

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In documents filed with the US Securities and Exchange Commission, the club have stated they will release 16,666,667 shares in total - with 8,333,333 of those being ordinary Class A shares priced between $16.00 and $20.00 (£10-£12).

However, the Glazers intend to hold on to the remaining 8,333,334 Class B shares which ensure they retain 10 times as many voting rights on the club's board as those who hold Class A shares.