– Here is a look at English football club Manchester United which has picked the New York Stock Exchange to raise up to $100 million in an initial public offering:
* MANCHESTER UNITED: THE FINANCE:
— United belongs to the American Glazer family, owners of the Tampa Bay Buccaneers National Football League team, who purchased the English champions in 2005 for about 800 million pounds ($1.3 billion).
— The club sits at the top of a web of subsidiaries but is ultimately dependent on a corporate entity based in Nevada in the United States called Red Football General Partner Inc.
— The Glazers have faced opposition from United fans after taking over the club in a leveraged buyout that left it saddled with hefty debt repayments.
— The club had planned a Hong Kong IPO in 2011 a $1 billion listing in Singapore before putting plans on hold because of market turmoil. It plans to use the money to go some way to paying off its debt which as on March 31 was 423.3 million pounds ($663.67 million), according to the filing.
– Manchester United Football Club was first formed in 1878, under a different name – Newton Heath LYR (Lancashire and Yorkshire Railway). It first became part of the league in 1892. Ten years later the club was saved and re-named Manchester United by local brewery owner John Henry Davies. It moved to Old Trafford in 1910.
– Manager Matt Busby joined in 1945, initially on a five-year contract. He also founded the “Famous Five” forwards when he brought together Jimmy Delaney, Stan Pearson, Jack Rowley, Charlie Mitten and Johnny Morris. The FA Cup was also the club’s first major honour since winning the League Championship in 1911.
– Tragedy struck Busby babes in 1958 when the United aeroplane crashed on its way home after playing the second leg of a tie against Red Star Belgrade. Eight players were killed.
– But as Busby defied the medics to recover from his crash wounds, the team bounced back and, patched up by Jimmy Murphy, they reached the FA Cup Final in May 1958.
– Ten years later in one of European soccer’s most famous matches, an emphatic 4-1 extra-time victory for United crowned the team as kings of Europe. Bobby Charlton, who survived the plane crash, scored twice, George Best once and Brian Kidd once.
– Alex Ferguson, the most successful manager in British football history, joined in November 1986. He has won more than 30 trophies during his time in charge of the Reds.
– Manchester United have won 19 league titles from 1908 onwards and two hat tricks from 1999-2001 and 2007-2009. The team has also won 11 FA Cups and three European Cups in 1968, 1999 and 2008.
Sources: Reuters/Manchester United (Reporting by David Cutler, London Editorial Reference Unit; editing by Anna Willard)
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