Manchester United trades on NYSE

By Laurie Bennett

August 10, 2012 at 5:53am

Shares in the Manchester United (MANU.N) soccer club began selling Friday at $14, well below the $16-20 price sought by underwriters.

That means Malcolm Glazer, the American businessman who has owned the team since 2006, will raise $117 million less than he had hoped.

Oddly, many Manchester fans are cheering the flop, saying they hope the price will drop to the point that the team becomes a takeover target.

As owner of the world’s most popular sports team, Glazer, who also owns the Tampa Bay Buccaneers, may be the world’s most unpopular owner.

Not only did Manchester perform poorly last year, but Glazer has diverted assets to his family rather than paying down debt.

At the end of March, the soccer club was in the hole by more than $660 million.

However, it has lined up some lucrative sponsorships. Last week, General Motors announced a deal with the club valued at as much as $600 million.

With a playing field in North Wwest England, incorporation in the Cayman Islands and a public offering on the New York stock exchange, the team has become a truly global enterprise. IPO filings claim an international following of 659 million people.

As the documents note, the team has more than 26 million Facebook friends, compared to just 5.8 million for the New York Yankees and 4.8 million for the Dallas Cowboys.

Facebook friends, however, don’t pay team salaries. Let’s see how many buy stock.

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

 Read related stories: Recent Stories · Sports  


  • There are no comments yet, be the first by filling in the form below.

Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.

Become a fan of Muckety on Facebook

  • Search for stories
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC