Glazers taking English soccer club public, in U.S.

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By rule, the Glazer family can’t sell stock in the NFL team they own.  But there’s no such rule that applies to their English soccer club, Manchester United.

According to the Associated Press, the Glazers filed a registration Tuesday to conduct an initial public offering of stock.  Under the proposal, Manchester United would become a listed company on the New York Stock Exchange.

It’s hardly a Packers-style sale of phony non-stock stock.  The Glazers’ goal is to raise a maximum of $100 million.

Stock in Manchester United previously was traded on the London Stock Exchange, from 1991 through 2005.  After the Glazers bought the club, it became a private concern.

Last year, the club pursued a $1 billion offering on the Singapore stock market.  The plan was scrapped, reportedly due to volatility in the global markets.

UPDATE 10:17 a.m. ET, 7/4/2012:  Contrary to the characterization by the AP that the Glazers hope to raise a maximum of $100 million, the BBC reports that $100 million represents the minimum goal.

12 responses to “Glazers taking English soccer club public, in U.S.

  1. So, the plan is to sell the stock and get out?

    If so, as a Bucs fan, I couldn’t be happier.

  2. I still can’t wrap my head around the amount of hate you have for the Packers’ stock. It’s glorified sports memorobilia, WHO CARES if it’s “worthless?!” It’s fun for Packer fans, and it keeps the smallest market team in professional sports viable. Get over it dude.

  3. Wait until the Glazer’s pull a Madoff and tell their stockholders that the money in Manchester is gone when they try to cash out!

  4. Helen! We can’t make our house payment. What should we do?

    — Invest our money in an English soccer team!

    —Okay!

    Leads to: abuse, divorce, attempted murder and finally a decent “48 Hours.”

  5. This would be the largest IPO of this type in the history of the NYSE. We were valued at $2.25 billion by Forbes.

  6. The Glazers have devalued Man U by over one billion dollars ever since they leveraged debt to buy the club. I would be very concerned if I was a Bucs fan with these owners in charge.

  7. @Tim

    We were, but they actually spent money on the Bucs team this offseason. A whole new staff, two probowl Free agents, a few castoff players, and even more assistants along with the coaches.

    They have bought my time for the next three seasons.

    BTW, how can you say they lost money in their Futbol team? They bought it for a cool billion, and the last I heard, some Saudi businessmen and some rich group (red knights?) from the Man U area offered two billion for it.

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