Manchester United now worth $3 billion

The team had a rough ride after its August IPO. But its stock price has ticked up in recent weeks, much to the delight of billionaire investor George Soros.

By Kim Peterson Jan 29, 2013 6:52PM
Credit: -- Tom Purslow/Man Utd via Getty Images
Manchester United (MANU) has beaten back the criticisms about its initial public offering and is now the first sports team to be worth $3 billion.

It's been an extraordinary run for a team that was valued at $2.29 billion last August, when its IPO shares priced at $14 each. The Glazer family, which took the famous soccer club private in 2005, was hoping the IPO would value the team at more than $3 billion.

The family finally got its wish. Manchester United shares lingered for months below their IPO price, but began crawling up in November and finally erased the losses about two weeks ago. The stock surpassed the $17 mark last week, though it has fallen back and closed Tuesday at $16.34.

The recent rise was enough to push Manchester's enterprise value, which is its equity plus debt, to $3.3 billion, Forbes reports. The only other team that comes close to that is the Dallas Cowboys, which is worth about $2.1 billion.

That's good news for George Soros, the billionaire investor who plowed millions into the team after it went public. In a regulatory filing at the time, Soros's fund management company said it owned 3.1 million Class A shares, which were worth nearly $41 million, CNNMoney reported.

If he had held on to those shares, his stake would be worth about $50.7 million now. So that's a gain of about $10 million in five months.

More on moneyNOW



Tags: IPOSports
1Comment
Jan 30, 2013 8:22AM
avatar
George... aren't you going overboard? You are in your 80's and still investing when you are well-past needing to do so. Your family is grown up and likely well-off. A soccer team? Really? Useless to our society at a time of great depravity. You know... that makes you a disease, just like all the other 80+ year olds. No longer the bull, just the old- with too much dough. Go build a ship in a bottle or anything but, keeping your hand on the throttle of the vehicle driving us into the ditch. Publicly trade a sports team? It can only lead to more corruption. They are no longer markets, they are cancer. I don't care what your political lean is, I care that you lack ethics, character and a heart. Get out of money you old fart.
Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

123
123 rated 1
262
262 rated 2
480
480 rated 3
651
651 rated 4
649
649 rated 5
629
629 rated 6
616
616 rated 7
496
496 rated 8
346
346 rated 9
111
111 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
EXCEXELON CORPORATION9
TAT&T Inc9
VZVERIZON COMMUNICATIONS8
CTLCENTURYLINK Inc8
AAPLAPPLE Inc10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.