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Manchester United intends to raise up to $333M in its NYSE IPO, with the U.K. soccer club and...

Manchester United intends to raise up to $333M in its NYSE IPO, with the U.K. soccer club and its owners, the Glazer family, offering 16.7M shares at $16-$20 each. At the midpoint, that would give United a market cap of $2.95B, or 50 times its profit of £38M in the year to March 31. Yesterday, United signed a 7-year sponsorship deal with GM that Bloomberg reports is worth £25M a year.
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Comments (5)
  • User 509088
    , contributor
    Comments (1329) | Send Message
     
    with the hordes foote fans here among the colonialists, i am certain this is as solid an investment as loaning king charles I cash to put the roundheads in their place.

     

    a-hem.
    31 Jul 2012, 04:53 AM Reply Like
  • johnycarrs
    , contributor
    Comments (96) | Send Message
     
    Crazy valuation, I can't see them Findingnenough demand for this ipo. If they do I can see it doing worse than the Facebook iPod.

     

    The clubs competitors, Manchester City and Chelsea are owned by oligarchs who are happy to lose 100 or 200 million a year. Football clubs don't have a viable business model and we just saw one of the biggest clubs in the UK Glasgow Rangers declared bankrupt.

     

    Would stay away from this one or short it as soon as possible
    31 Jul 2012, 06:18 AM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
     
    This and Facebook in the future will be called the peak...
    31 Jul 2012, 07:16 AM Reply Like
  • johnycarrs
    , contributor
    Comments (96) | Send Message
     
    Hope it won't be the peak, but ipos are valuing companies at multiples 10 or 20 times more than listed companies that are doing well and hence the huge drops being observed.

     

    I am from the UK and football is not a money making business. It has become a hobby for the super rich who buy a football club now once bored with their yachts and planes.

     

    I can't see how it will be possible for man into to compete and be profitable. The 39 million they made last year is less than Chelsea spend on one of their players. I hope people don't get stung on this ipo. I think Facebook would be a better investment which says it all.
    31 Jul 2012, 11:16 AM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
     
    This will be called Footbook......
    1 Aug 2012, 08:56 AM Reply Like
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