Manchester United is planning to raise about $1 billion with a Singapore initial public offering, according to a Wall Street Journal report.
The IPO for the club, ranked by Forbes as the world’s most valuable team at $1.86 billion, would come in the fourth quarter of this year, according to the WSJ. Man U, was delisted from the London Stock Exchange when Malcolm Glazer, who also owns the Tampa Bay Buccaneers, bought it in 2005 for $1.3 billion in a leveraged buyout.
Bloomberg reports that the team is seeking to lower financing costs and to raise money for expansion and acquisition of players. Over its 133-year history, Man U has been the English league champion 19 times and has been Europea champion three times.