JULY 3, 2012 5:31 PM
Manchester United filed for an initial public offering in the United States on Tuesday, a move that would return the English soccer team to the public markets.
The club set a preliminary fund-raising target of $100 million to determine registration fees. It had previously hoped to raise about $1 billion in either Hong Kong or Singapore. Manchester United had traded on the London Stock Exchange before Malcolm Glazer, an American who also controls the Tampa Bay Buccaneers football team, took the company private in a $1.45 billion buyout in 2005.
In its prospectus on Tuesday, Manchester United, a soccer team founded by railway workers in 1878, says it qualifies as an “emerging growth company” under the Jumpstart Our Business Start-Ups Act of 2012 because it generated less than $1 billion in revenue in its last fiscal year. That exempts the team from some financial reporting requirements, including having its internal controls approved by an auditor, for up to five years.
The filing also lays out a share structure that would allow the Glazer family to keep control of the team even while selling equity. Manchester United plans to sell an undisclosed number of Class A shares, which have one vote each. The Glazer family will hold Class B shares, which will have 10 votes apiece, effectively keeping the club’s management within its control.
Such a structure was considered less palatable in Hong Kong, where the team first considered listing. It is more common in the United States, where companies like Facebook,News Corporation and The New York Times Company have dual-class listings.
Manchester United said in the prospectus that its games during the 2010-11 season reached four billion viewers.
Despite being one of the most popular soccer teams in the world, Manchester United earned just £13 million, or $20.4 million, last year in profit from continuing operations. But that was a sharp swing from a £40.5 million operating loss in 2010.
from: http://dealbook.nytimes.com/2012/07/03/manchester-united-files-to-go-public/
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Malcolm Glazer was born on May 25th, 1928 according to http://en.wikipedia.org/wiki/Malcolm_Glazer
May 25th, 1928
May 25th
5 + 25 +2+0+1+2 = 35 = his personal year = Cashing in.
35 year + 6 (June) = 41 = his person month (from June 25th, 2012 to July 24th, 2012) = 41 = Things get ugly.
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comprehensive summary and list of predictions for 2012:
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Sex Numerology available at:
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