Manchester United Becomes First Team Valued At $3 Billion
A week removed from witnessing the first NBA teams see their franchise valuation rise above the $1 million mark – the New York Knickerbockers and the Los Angeles Lakers – we are now graced with news of a franchise that trumps these two.
The English Premier League’s Manchester United F.C. has become the first sports franchise in the world with a $3 billion valuation, according to Mike Ozanian of Forbes on Monday.
“Shares of [United], which were offered to the public last August at $14, did poorly at first but have soared the past few days. Last seen at just under $17, Manchester United’s stock has outperformed the S&P 500 since its IPO and made the controlling Glazer family and legendary investor George Soros…wealthier.”
The recent increase in its stock price has pushed Manchester United’s enterprise value – equity plus debt – to $3.3 billion, the highest of any team in the world. The second most valuable sports team in the world is the NFL’s Dallas Cowboys who are worth $2.1 billion.
Manchester sits atop the EPL, five points ahead of crosstown rival Manchester City. The acquisition of Robin van Persie has bolstered the attack, as the exciting Red Devils lead the Premiere League with 57 goals in just 23 matches on the season.
As if the Red Devils weren’t already a franchise to admire, this is yet another accomplishment to add to the list.
Wayne Rooney and Cristiano Ronaldo are both notable players worldwide who have competed for the Football Club.
Joseph Turuseta | Elite.