After being spot on about avoiding the Facebook Inc. (Nasdaq: FB) IPO and predicting the shares would hit $25 within a month, we were off by 52 cents. Now, even though its not a penny stock, a super IPO is going to hit the NYSE some time in the next few months and is worth every penny: Manchester United Ltd. The Red Nation was set to IPO in Singapore for an estimated $1 billion before Manchester Untied Ltd. owner Malcolm Glazer changed the setting and offering to just $100 million. This is going to be a huge money maker for those who can get their heads around the fact that the U.S. is the only country in the world where the sport is not the #1 sport.
Get to know that American football, the NFL, is considered to be women’s rugby by the brits, and the 134 year old football (soccer for Americans who never traveled abroad) club is en route to its most profitable year since the Glazer family loaded the #1 sports team in the world with debt.
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Manchester United has been, and will continue to be, one of the top 3 English Premier League clubs having been Premiership Champions 19 times and host to many of the best footballers to ever play the sport. Many may remember when the Glazer family first took control of the religiously followed soccer club by over 659 million people worldwide saw Malcolm Glazer facing protests from Manchester United fans. A large number of those fans who owned shares in ManU since they were infants were tearing their share certificates up in protest of an American coming in to “foul things up.”
However, America has always been about money and after a few bad years and becoming host to a ton of Glazer related debt, Manchester United is about to embark on a phenomenal financial fiscal year just before the IPO. For th nine months ended March 31, 2012, ManU reported revenues of £245.83 million. For the fiscal years ended June 30, the club reported full year revenues of £278.48 million (2009), £286.42 million (2010), and £331.44 (2011). Although revenues may not top fiscal 2011 after the June 30, 2012 full year results are in, net profit after EBITDA was £38.22 million for the nine months ended March 31, 2012 compared to £13.34 million for the nine months ended March 31, 2011. Fiscal 2011 net profit after EBITDA was £12.99 million.
Although the estimated $100 million is earmarked to pay down some of the $663.20 million debt the Club has on its books, that is a provisional figure and the size of the issue could increase. The removal of some debt will allow for the Club to purchase players to compete for future titles against the other Billionaire owned Premier League clubs like Chelsea, Arsenal, Liverpool and Manchester City.
What Is Manchester United Ltd. IPO Price
No one knows this yet. What we do know is the F-1 was filed hours before the 4th of July holiday and that Manchester United is looking to raise up to $100 million in an initial public offering of its Class A ordinary shares. The Glazer family will hold class B shares representing 67% of the voting power which will keep them in control of the club’s management.
Who is Underwriting the Manchester Untied IPO
Jefferies, Credit Suisse, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank Securities are underwriting the IPO. Morgan Stanley, one of the investment banks originally expected to underwrite the Singapore listing, has been left out.
How Does Manchester Untied Make Money
First of all, Manchester United is one of the most popular and successful sports teams in the history of the world, playing one of the most popular spectator sports on the planet. Through their 134-year history, the club has won 60 trophies, enabling the club to develop one of the world’s leading brands with worldwide community of 659 million loyal followers. This is what drives Manchester United with a global platform to produce revenues not seen by many companies anywhere in the world from multiple sources, including but not limited to sponsorship, merchandising, product licensing, new media & mobile, broadcasting and matchday.
Manchester Untied Football Club Facts:
• During the 2010/11 season, the Club’s games produced a cumulative audience reach of over 4 billion viewers across 211 countries. On a per game basis, the club’s 60 games attracted an average live cumulative audience reach of 49 million per game.
• Over 5 million items of the club’s branded licensed products were sold in the last 12 months, including over 2 million of the club’s player jerseys. The Club’s branded products are sold through over 200 licensees in over 130 countries.
• The Club’s products are sold through more than 10,000 doors worldwide.
• The Club’s brand and content has enabled Manchester United Ltd. to partner with mobile telecom providers in 44 countries and television providers in 54 countries.
• The Club’s website, www.manutd.com, is published in seven languages and over the last year has attracted an average of more than 60 million page views per month.
• The Club’s Facebook page has more than 26 million connections. In comparison, the New York Yankees have approximately 5.8 million connections and the Dallas Cowboys have approximately 4.9 million connections.
• English Premier League games at the Club’s home stadium, Old Trafford, have been sold out since the 1997/98 season. In the 2010/11 season, the Club’s 29 home games were attended by over 2 million people.
• The Club partakes in exhibition games and promotional tours on a worldwide basis, enabling Manchester Untied followers to see the Club play. Over the last 3 years, the Club has played 15 exhibition games in the U. S., Canada, Ireland, Mexico, Malaysia, South Korea and China.
Get to know Manchester Untied Ltd. and prepare for the upcoming IPO by reviewing the F-1 filed with the SEC by clicking here.
Bottom Line: This is going to blow the doors off of any IPO that has hit the market in 2012, especially Facebook. Although there is still a large hatred about the American ownership of the most successful and top branded football club in the world, investors, collectors and fans of Manchester Untied will have no choice but to be involved.
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