News24

United valued at record $3.3bn

2013-01-28 21:58

New York - Manchester United have become the world's first sports team to be valued at more than $3bn, according to Forbes magazine.

A recent surge in the stock price of the English Premier League outfit has boosted the team's value to $3.3bn, a story posted on the magazine's website reported.

United's most recent quarterly report four months ago listed their long-term outstanding debt at $560m.

Shares of the team were offered to the public last August at $14 but are just under $17, boosting the wealth of the Glazer family, which has voting control of almost all of the team.

Famed investor George Soros was among those who purchased a stake in the 19-time English champions after shares went public.

Earnings dropped in the first quarter due to reduced television revenue, but Forbes credited the stock boost in part to bright prospects from new sponsor deals with China Construction Bank and Japan's Kansai.

American football outfit Dallas Cowboys were second on the Forbes list, valued at $2.1bn.

AFP

Comments
  • banks.mokhachane - 2013-01-28 23:05

    FOREVER UNITED

      dhirshan.gobind - 2013-01-29 09:27

      This is due to the 500 million supporters in Asia, Africa and Middle East, who don't even know where Old Trafford is.

      Vishen - 2013-01-29 10:09

      Try Salford buddy.

      nhlapop - 2013-01-29 16:13

      As if you know where Old Trafford is.

  • nickwill.reen - 2013-01-29 05:45

    Busy-ness as use-ual on and off the park!

  • Vishen - 2013-01-29 07:18

    Now just imagine what more we can do on the pitch, when we wipe that Glazier debt of the books. The mind boggles.

      sharmilen.naidoo - 2013-01-30 08:13

      Well said Vishen....

  • sharmilen.naidoo - 2013-01-30 08:12

    dhirshan.gobind....now your claims have been researched by yourself have they? Rather than posting your un-educaed comments rather go and check on what actually makes Man Utd the first sports team to be valued at more than $3bn.

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