The amount of shares we're selling currently no, this is more a toe in the water job, we're seeing what the markets like and if it's interested we'll release more shares. The debt could be gone very soon, we then will be back to paying dividends out of our profits but they will be a lot less than what we're paying out in loan repayments interest.
Exactly. It COULD all be gone - but that is assuming the Glazer's dreams come true and we get valued at US$2bn+.
Dividends will be far less than the interest repayments but so long as we are listed, they will remain a permanent fixture (profits permitting).
No one has mentioned the benefits we get from being listed either. Whilst not as preferable as being owned by a guy from manchester, who supports the club and made billions from his career, it is certainly preferable to the highly leveraged model we have currently.
General admin costs will increase as a listed company sure, but they certainly won't be more than £10m which is what we paid the Glazers last year in 'consultancy fees' (which have been removed permanently for this float). It will then, rather unusually, actually reduce our operating costs.
It also opens up a huge market of potential investment. The NYSE is the largest (by a country mile) exchange in the world - if we needed to raise capital in the future for any investment purposes e.g. expansion of the stadium, acquisition of more surrounding land, construction of a 'fan zone' even the acquisition of a player (!) then we could simply issue shares to raise the cash. This eliminates any ongoing banking costs we may incur in borrowing money (we will of course still have overdrafts etc.)
Our profile in the US will go up as well. We don't derive huge revenue from the US consumer market but we make a large bulk of our sponsorship revenue from there - DHL, Nike, Aon (AIG as well) Chevrolet etc. Listing in the US will only strengthen our brand and that should lead to further commercial growth.
Perhaps most importantly of all is the requirement to have AGMs. Whilst I have no doubt that this will be in the USA and not in the UK, the Glazers will be forced to stand in front of the shareholders and apply for re-election every year (just 2 of them on the board I think). Of course they will have over 66.7% of the voting rights but if you own just 1 share, you have as much right to ask questions of the board as the guy who owns 99% at this meeting. Accountability and transparency unlike the last 6 years can only be a good thing.