SportsMoney
Glazer Family Mulling IPO For Manchester United
Image by AFP via @daylife
The Independent reported yesterday that billionaire Malcolm Glazer and his family are thinking about taking the world’s most valuable sports team, Manchester United, public.
The newspaper article mentions a $2.47 billion valuation for the soccer club. That would work out to an equity value of $1.7 billion because Manchester United has $756 million of debt.
Under the stewardship of the Glazer family the Red Devils have been successful on the pitch (this past season they won the English Premiership and lost in the finals of the Champions League to Spain’s Barcelona) and expanding their portfolio of lucrative sponsorships, like the $116 million, four year shirt-deal signed with insurer Aon in 2009.
Despite the club’s enormous success, the Glazer family has never captured the hearts of thousands of the club’s supporters, most notably Manchester United Supporters Trust, who have viewed the Glazer’s purchase akin to KKR’s leveraged buyout of RJR Nabisco.
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