REPORTS TODAY INDICATE that Manchester United will hold off on its US$1 billion market flotation until at least the end of this year.

Citing a source familiar with the situation, the Associated Press says that the Initial Public Offering – a flotation on the Singapore stock market – has been delayed because of volatile global markets.

The English football club has not spoken publicly about its financial plans, but the AP’s source said that the Glazer family, which owns the business, are waiting for market conditions to improve.

The idea behind the offering is to raise about US$1 billion for the club by selling-off about 25 to 30 per cent. The IPO was previously expected to be completed by mid-October.

The Singapore Stock Exchange has already given its approval for the listing but if it does not happen by the end of this year, the club will need to seek an extension.

Even though it has been football’s most valuable team for the past seven years, United’s planned listing values the club at far more than the $1.9 billion valuation given by Forbes magazine.

The club was bought by the Glazers for US$1.4 billion in 2005. Fans are bitterly opposed to the Glazer ownership because they have saddled the previously debt-free business with millions in debt.

As of June 30, Manchester Utd’s debts totalled $747 million. The Premier League champions pay out a massive £45m every year simply to pay the interest on its current debt.

According to the Financial Times, talks are still ongoing with “cornerstone” investors such as Temasek, the Singapore state investment agency.

-Additional reporting by AP