Make us your home page
Instagram

Get the quickest, smartest news, analysis and photos from the Bucs game emailed to you shortly after the final whistle.

(View our Privacy Policy)

Reuters: Glazer family's Manchester United expected to start selling stock to public soon

Malcolm Glazer, celebrating the Bucs’ Super Bowl XXXVII win, and his family also own Man U, the richest sports franchise.

Getty Images (2003)

Malcolm Glazer, celebrating the Bucs’ Super Bowl XXXVII win, and his family also own Man U, the richest sports franchise.

Soccer power Manchester United is expected to start selling stock to the public as early as next week in New York, for pricing in early August, after earlier attempts in Hong Kong, Singapore and the United Kingdom, Reuters news agency reported.

The timetable marks a change from the original schedule to proceed with the initial public offering (IPO) after Labor Day on Sept. 3, Reuters said

In another change, the soccer club that is owned by the Glazer family, which also owns the Buccaneers, is now looking to raise $300 million on the IPO, less than the $500 million previously contemplated.

The decision on timing and sizing is fluid and could change, depending on the regulatory review process.

Steven M. Davidoff wrote on DealBook that Malcolm Glazer and his family need the cash infusion from an IPO to help pay down the huge debt they saddled Man U with in order to buy it, the New York Times reported, but they don't want to give up control of the world's most successful soccer club and an incredibly valuable global brand.

The club, founded in 1878, was recently valued at $2.2 billion by Forbes, continuing to make it the richest sports franchise in the world.

The latest filing, on Monday, provides limited additional disclosure, other than the selection of "MANU" as the club's ticker for a New York Stock Exchange listing.

In the seven years before the Glazers bought the club outright, Manchester United won four Premier League titles, one Champions League title and two FA Cups. Since the Glazers took over, it has won four Premier League titles, one Champions League title and twice finished second in the FA Cup.

Reuters: Glazer family's Manchester United expected to start selling stock to public soon 07/18/12 [Last modified: Wednesday, July 18, 2012 9:36pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Rays waste repeated opportunities in 5-3 loss to Blue Jays

    The Heater

    TORONTO — Rays manager Kevin Cash made a case for urgency before Thursday's game, in both actions and words, making significant changes to the structure of the lineup and sincere comments about time running short.

    Trevor Plouffe of the Rays reacts as he pops out with the bases loaded in the sixth inning. [Photo by Tom Szczerbowski/Getty Images]
  2. Confederate statue: Why Bucs, Lightning, Rays took a stand

    Bucs

    They didn't want another Charlottesville.

    Marc Rodriguez, a member of the "Florida Fight for $15" organization, stands in protest along with other activists demanding the Confederate  monument be removed from the old Hillsborough County Courthouse in Tampa. [OCTAVIO JONES   |   Times]
  3. Kevin Cash: 'We've got to turn it around. ... Time is of the essence'

    Blogs

    The question to manager Kevin Cash was about a rematch with the Mariners this weekend at the Trop, but he made clear this afternoon that with his Rays losing nine of their last 12 that they have to treat every game as essential.

    "We've got to start playing good baseball games whether we match up well against that team or not," Kevin Cash said.
  4. Lightning wing J.T. Brown on why he donated to remove Confederate statue

    Blogs

    Lightning wing J.T. Brown was back in his Minneapolis offseason home over the weekend when he saw on TV the violent protests in Charlottesville over the removal of a Confederate statue.

    J.T. Brown decided to get involved, donating $1,500 to assist in removing a Confederate statue in Tampa.
  5. Rays, Bucs and Lightning join Dungy in donating to move Confederate monument

    Bucs

    The Tampa Bay area's three major league sports teams have pledged their financial support in moving a Confederate monument out of downtown Tampa.

    Tony Dungy in 2011. [Getty]