A surge in Manchester United’s shares has seen the overall value of the club rise to $3.3 billion.
Manchester United have become the first sports team in the world to be valued at more than $3 billion.
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 $3.3 billion.
According to Forbes, United are comfortably ahead of the world’s second-most-valuable sports team, the NFL’s Dallas Cowboys, worth $2.1billion.
The United shares were initially offered to the public at $14 and are now worth just under $17.
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.
Trending
- Minister of Information congratulates newly-elected APRA executives
- Seven injured, cows die in Lagos-Ibadan Expressway accident
- FG constitutes Governing Councils of tertiary institutions + Full list
- Police arrest three suspects for alleged armed robbery in Enugu
- Adeboye’s son speaks about his crush on Oyedepo’s daughter
- North-East governors fault FG for neglecting region in capital project allocation
- Oyebanji and politics of inclusivity, by Segun Dipe
- NDDC to commission N84b projects