FOOTBALL clubs listed on the Stock Market were last night told to ensure shareholders receive the same treatment as supporters when major transfers were announced.
The Financial Services Authority (FSA) has written to nine listed clubs reminding them that price sensitive information should be released without delay to the London Stock Exchange (LSE) before it is released elsewhere.
It also advises that clubs prepare a holding announcement for issue in the event that details of a transfer or other major news were leaked.
The City watchdog is known to have been concerned at the timing of an announcement by Manchester United in June about the sale of David Beckham. It made preliminary inquiries into why the club discussed the possibility of the player's move on its website before telling the Stock Exchange. The FSA confirmed yesterday it had decided to take no further action.
As well as Manchester United, the other clubs on the LSE's main list are Newcastle United, Aston Villa, Celtic, Leeds United, Southampton, Sunderland, Tottenham Hotspur, and Hearts.
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