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Nairaland Forum / Entertainment / Sports / European Football (EPL, UEFA, La Liga) / Manchester United Becomes First Team Valued At $3 Billion (467 Views)
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Manchester United Becomes First Team Valued At $3 Billion by supereagle(m): 6:32am On Jan 29, 2013 |
Manchester United has become the first sports team in the world with a $3 billion valuation. Shares of the English soccer team, which were offered to the public last August at $14, did poorly at first but have soared the past few days. Last seen at just under $17, Manchester United’s stock has outperformed the S&P 500 since its IPO and made the controlling Glazer family and legendary investor George Soros, who bought a big stake in the team shortly after it went public, wealthier. The recent increase in its stock price has pushed up Manchester Untied’s enterprise value (equity plus debt) to $3.3 billion, the highest value of any team in the world. The second most valuable sports team in the world are the NFL’s Dallas Cowboys, worth $2.1 billion. Despite a drop in first quarter earnings because of a reduction in television revenue, the appetite for shares of the 19-time English champion has increased due to brighter earnings prospects from new sponsorship deals with Japan‘s Kansai, and China Construction Bank, and the potential of much more lucrative English Premiership (Manchester United currently is in first place) and Champions League payouts this year. Publicly traded sports teams have traditionally been bad investments. But thus far the Red Devils are bucking history. http://www.forbes.com/sites/mikeozanian/2013/01/27/manchester-united-becomes-first-team-valued-at-3-billion/ 1 Like |
Re: Manchester United Becomes First Team Valued At $3 Billion by HARDDON: 9:01am On Jan 29, 2013 |
United, a global phenomenon. A sell out name brand. A club rich in culture. Come back Kings, 19times L Champs ... And d Dream theatre lives on! This is United! And long may we live |
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