Manchester United Valued At $3 Billion
Tue 29th Jan 2013 | Money & Finance
Manchester United has become the first sports team in the world with a $3 billion valuation according to Forbes.
Shares of the current Premier League leaders, which were offered to the public last August at $14, traded poorly at first but have soared the past few days.
Last seen at just under $17, Manchester United’s stock has outperformed the S&P 500 since its IPO, bucking the trend of publicly traded sports teams which have traditionally been bad investments.
The recent increase in its stock price has pushed up Manchester United’s enterprise value (equity plus debt) to $3.3 billion, the highest value of any team in the world
Last week Manchester United were placed third in the Deloitte annual Football Finance League behind Spanish giants Real Madrid and Barcelona, but despite a drop in first quarter earnings because of a reduction in television revenue, the appetite for shares of the 19-time English champions has increased due to brighter earnings prospects from new sponsorship deals with Japan’s Kansai, and China Construction Bank, and the more lucrative Premier League and Champions League payouts this year.
Posted by: Aaron Gourley
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