MANCHESTER UNITED have filed out-of-date accounts for their floatation on the New York Stock Exchange in a move that has attracted criticism from analysts.
The Glazers, who applied to float a Manchester United company registered to the Cayman Islands tax haven last week, filed financial accounts running to June 2011, rather than June 2012.
"I am delighted to be able to give all of my efforts to Manchester City for a further five years.”
It is expected United’s income has suffered a significant decline in the past 12 months – something the Glazer family have been accused of deliberately hiding from future investors.
The loss of income could be due to United’s early exit from the Champions League last season, whereas in 2011 they earned £44m after reaching the final.
The US Securities and Exchange Commission does not allow companies to present accounts more than 12 months old – meaning United have to apply for special dispensation for the out-of-date accounts to be accepted.
Edward Woodward, United's executive vice-chairman, pointed out in a letter dated 3 July that the accounts for United's most recent financial year are not overdue in the Cayman Islands, and having to present the 2011-12 accounts would be "impractical and involve undue hardship" for United.
Spokesmen at both at the Old Trafford offices, and representing the Cayman Islands-registered company in New York, have declined to comment on any aspect of the proposed flotation.
Manchester City manager, Roberto Mancini, has signed a new contract with the Premier League Champions that will keep him at the club until 2017.
The five-year deal, worth at least £25m, dismisses rumours the Italian was considering a big-money move to become Russia’s national team boss.
Mancini said: "I am delighted to be able to give all of my efforts to Manchester City for a further five years. The opportunity that exists to build on our recent success is enormous.”
Queens Park Rangers have snapped up United’s tireless midfielder Park Ji-sung for an initial fee of £2m.
Park Ji-sung moves from Man Utd to QPR for £2m
The 31-year-old South Korean international, who made 133 league appearances for United, has signed a two-year deal with the London club.
Sir Alex Ferguson told United’s official website: “He never let us down on the big occasions, but unfortunately I just couldn't give him the number of games he wanted."
Park won four Premier League titles and the Champions League during his time at Old Trafford, but made only 10 appearances last season.
Macclesfield have taken their summer transfer tally to 10, as the latest couple join the haul.
Midfielder Andre Costa has joined from Dulwich Hamlet, and former Everton trainee John Paul Kissock arrives on loan from Luton Town.
Costa, who has previously played in Cyprus, told the club’s website: “I’m delighted to get this opportunity at a higher level.”
Steve King will have 22-year-old Kissock on loan until 5 January as his side prepare for their first season back in non-league football.
Kissock is likely to fill the void left by Ross Draper, who quit the Blue Square Premier side in favour of life in the Scottish Premier League with Inverness.
Macclesfield loanee John Paul Kissock training with England
And finally, Bury manager Richie Barker believes League One will be more competitive next season due to the quality of the four newly promoted teams.
The Shakers finished 14th in their first season back in League One last year, but Barker told BBC Radio Manchester: "This year's going to be harder. I don't think the top four will run away with it as much and I think the bottom eight will be a lot closer."
He added that newly promoted Swindon, Crawley, Shrewsbury and Crewe have all got the finances and the hunger to keep climbed the football league.
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