Manchester United value exceeds $3bn
Report says United are first sports team to break that barrier
Monday 28 January 2013
Manchester United have become the first sports team in the world to be valued at more than 3billion US dollars.
A surge in the club's shares after a poor start when they were offered on the New York Stock Exchange in August has seen the overall value of United rise to 3.3billion US dollars (£2.1billion).
According to Forbes, United are comfortably ahead of the world's second-most-valuable sports team, the NFL's Dallas Cowboys, worth 2.1billion dollars (£1.4billion).
The United shares were initially offered to the public at 14 dollars and are now worth just under 17 dollars.
It means a huge increase in the overall wealth of the Glazer family, who have a controlling interest in United, and billionaire investor George Soros - the 22nd richest person in the world - who bought a 7.5 per cent stake in the club.
United's commercial growth appears to be driving the share price up, with the club announcing several new sponsorship deals since August, qualifying for the Champions League knockout stages, and with the prospect of the new bumper Premier League television deals that are coming on stream from August.
The Glazers sold 10 per cent of their shares in the initial public offering sale in August but United's vice-chairman Ed Woodward insisted in October the family will not sell the club for "many, many years" despite ongoing interest.
Woodward said they had no interest in cashing in the rest of their holding.
Latest in Sport
Chelsea players allowed 20 minutes to celebrate, says Jose Mourinho after Capital One Cup victory
Liverpool vs Manchester City match report: Stunners from Philippe Coutinho and Jordan Henderson sink Manuel Pellegrini's side
Arsenal 2 Everton 0 player ratings: Who scored highest at the Emirates?
Ireland 19 England 9 player ratings: Jonathan Sexton? Devin Toner? Alex Goode? Who was the star man in Dublin?
Chelsea vs Tottenham - Capital One Cup final match report: Captain John Terry inspires Blues triumph at Wembley Stadium
- 1 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Dakota Johnson's 'It's only Isis' Saturday Night Live sketch sparks controversy
- 4 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'