chief Gill: No reason to jump straight into Stock Exchange listing

Chief David Gill has explained why they're not jumping into floating the club.

With stock markets in turmoil, however, plans for the IPO are thought to have been shelved by the Glazers and their army of advisers – which include Morgan Stanley, JP Morgan, and Credit Suisse.

"It is not officially on hold but the owners will be taking appropriate advice from the advisers and determining what the markets are telling us," Gill told the Telegraph. "But I don't think it's the level of the market, it is the sheer volatility. That's the challenge."