Manchester United have been given approval by the Singapore stock exchange to list their shares in the city, a source familiar with the deal said yesterday.

A public listing in Singapore, which reports have said could raise $1 billion, will bring the reigning league champions closer to fans in Southeast Asia, a football-crazy region of more than half a billion people. But the club will gauge market sentiment before launching the initial public offering (IPO) because of uncertainty sparked by the eurozone debt crisis, said the source, who asked not to be named.

“They have received approval but the timetable is not fixed,” the source told AFP.

“The company is not in need of funds so they are not in a hurry to list. Basically, they are keeping a watching brief on market conditions.”