Manchester United move to Caymans could benefit Glazers in IPO

(Reuters) - Companies often incorporate in the Cayman Islands for tax reasons. But in the case of Manchester United, the football team seeking an initial public offering on the New York Stock Exchange, the advantage accrues to its controlling family, the Glazers, at the expense of new public investors.

As part of its IPO, the legendary sports franchise will use a new Cayman Islands company to sell shares, even though the club's operations are in Britain.