Even richer which will no doubt make all Reds worldwide jump for joy
Manchester United have become the first club to break the three billion dollar valuation mark according to the latest reports making them the most valuable sports ‘franchise’ in the world.
Forbes magazine notes:
“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. Closing at just under $17, Manchester United’s stock hasoutperformed 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.”
United’s value may actually mean little to many supporters who’ve had enough of the Glazer ownership and the circus that has come with it. Call me an optimist but the fact United are valued so highly should only be a good thing, especially if we do see the introduction of the long-awaited financial fair play rule.
Regardless of the implications of United’s newly announced value, one thing’s for certain, the Glazers won’t be pumping much of that money back into the club.