Two people familiar with the matter say Manchester United's American owners are planning to dilute their stake in the Premier League club with an initial public offering in Singapore.

The people spoke to The Associated Press on condition of anonymity because they were not authorized to discuss the plan publicly.

They say the Glazer family, which has owned the club since 2005, chose Singapore for the IPO because Asia is central to United's growth away from the soccer field.

While the Glazers plan to remain in control of United, an IPO would reduce the club's debt, which exceeds $817 million.

United chief executive David Gill declined to comment on the reports.