Manchester United Plc team owner Malcolm Glazer is so loathed by fans that some once burned him in effigy. They might hate him even more if they learn how he tried to hide the true state of the soccer club’s finances before its August initial public offering.
The owners of Manchester United Ltd., winner of 19 English soccer championships, are betting the club can complete an initial public offering that will make it twice as valuable as any other sports franchise.
Arsenal’s controlling shareholder Stan Kroenke said he can’t understand Manchester United supporters’ criticism of the Red Devils’ owners, who’ve led the club as it won four of the last five Premier League titles.
Manchester United topped Forbes magazine’s annual list of the world’s most valuable soccer club with an estimated value of $2.24 billion, a 20 percent increase on last year. David Beckham was again ranked the richest player.
Singapore beat Hong Kong to lure the initial stock sale of record 19-time English soccer champion Manchester United Ltd. in part by assuring a speedier approval process, bankers with knowledge of the matter said.
Philip Falcone , the hedge-fund manager under fire from clients for tying up their cash in a wireless network and other hard-to-sell assets, plans to help finance such bets in the future by selling stock and bonds through a publicly traded shell company.