Gill says United will grow despite poor market show

Chief executive David Gill believes Manchester United will continue to grow despite a disappointing share price when the club was listed on the New York Stock Exchange yesterday.

United, bought by the Glazer family in 2005 for about £800m (€1,019m), offered 16.7m shares — equal to a 10% stake — at a price of $14 (around €11) each, but there was little price movement in early trading.

The offering was substantially lower than the $16 to $20 originally proposed by its advisers — which would have valued the club at £2.1bn (€2.6bn) at the top end.