New York: Manchester United plans to go public. In the United States, to boot.
The record 19-time English champions filed a registration statement with the Securities and Exchange Commission on Tuesday to hold an initial public offering of stock and become a listed company on the New York Stock Exchange. The deal could ease pressure on the club's cash flow as it tries to keep and acquire players in an attempt to regain English and European titles.
While the stock price and the number of shares were not listed, the registration statement said the club hoped to raise a maximum of $100 million — a place-holding figure that could change before the offering becomes effective.