Man Utd Value Tops $3 Billion
The value of Barclays Premier League leaders Manchester United has topped $3 billion – the first sports team in the world to do so – following a surge in the club’s shares.
After a poor start on the New York Stock Exchange when they were offered in August, the overall value of the club has now risen to $3.3bn (£2.1bn). The Manchester United shares were initially offered to the public at $14 and are now worth just under $17.
The direct result is a huge increase in the overall wealth of the Glazer family, who have a controlling interest in United, and the billionaire investor George Soros – the 22nd richest person in the world – who bought a 7.5% stake in the club.
According to Forbes, United are now comfortably ahead of the world’s second-most valuable sports team, the NFL’s Dallas Cowboys, valued at $2.1bn (£1.4bn).
United’s commercial growth appears to be driving the share price up, with the club announcing several new sponsorship deals since August, including a number of partnerships in Asia and Europe.
As well as broadening its power in the global marketplace, the league leaders have also qualified for the UEFA Champions League knockout stages, plus the prospect of bumper new Premier League television deals from August.
