Manchester United, the dominant soccer franchise in the United Kingdom, this week announced plans to raise $100-million (U.S.) through an initial public offering on the New York Stock Exchange.
The club’s owners, the Glazer family, will retain control with a special class of shares that have 10 times the voting rights of the new stock.
The Manchester club becomes the latest sports franchise to benefit from a large fan base by raising money in the public market, joining European competitors like Juventus FC and FC Porto, as well as previous, temporary forays by the U.S.-based Boston Celtics basketball team and Cleveland Indians baseball club.
But potential buyers should beware: Many similar stocks have seen investors and fans buying with their hearts – enduring significant losses in subsequent trading.
Manchester United, the dominant soccer franchise in the United Kingdom, this week announced plans to raise $100-million (U.S.) through an initial public offering on the New York Stock Exchange. Striker Wayne Rooneycelebrates after scoring a goal. (ANDREW YATES/AFP/Getty Images)
Arsenal (England). Five-year return to June 30: 138.9 per cent. Striker Robin Van Persie on Wednesday announced he will not be extending his contract with the club. (Kirsty Wigglesworth/AP)
AS Roma (Italy). Five-year return to June 30: -36.2 per cent. Players celebrate after Mirko Vucinic scored against Chelsea during their Champions League soccer match at the Olympic stadium in Rome on Nov. 4, 2008. (TONY GENTILE/REUTERS)
Porto (Portugal). Five-year return to June 30: -81.7 per cent. Bruno Alves, centre, reacts after Porto's goal during their Champions League second round soccer match against FC Schalke in Porto on March 5, 2008. (Martin Meissner/AP)
Juventus (Italy). Five-year return to June 30: -68.3 per cent. Pavel Nedved, right, is tackled by Liverpool's Djimi Traore during their Champions League quarter-final second leg soccer match in Turin on April 13, 2005. (GIAMPIERO SPOSITO/REUTERS)
Tottenham Hotspur (England). Return to January, 2012, when the shares were delisted: -63.6 per cent. Peter Crouch, right, receives a red card during the first leg of the club’s Champions League quarter-final match against Real Madrid in Madrid April 5, 2011. (SUSANA VERA/REUTERS)
to get it and come back to see the ad in front of this gallery.
