The Facebook phenomenon has affected the initial stock offering from the folks who own the Tampa Bay Buccaneers.
The Glazer family, which has both the Bucs and the Manchester United soccer club in its sports empire, has tried to reduce some of the massive Man U debt by selling shares via the New York Stock Exchange. Expected to be priced between $16 and $20 per share, it opened at an initial price of $14, according to the Associated Press.
It moved as high as $14.19, but dipped to $13.94 in after-hours trading. (At least officials from the club got to ring the opening bell at the stock exchange.)
Analysts believe that concerns regarding the club’s financial situation coupled with general skittishness after the dismal Facebook IPO in May drove the price down.
For any Bucs fans wondering whether the Glazers will do the same thing with their NFL team, league rules prohibit public ownership of teams. Only the Packers are exempt, because they were publicly owned before the rules were changed.