Manchester United announce stock listing in New York
August 1, 2012 -- Updated 1928 GMT (0328 HKT)
Manchester United has been listed on the New York stock exchange as "MANU"
- Manchester United have announced their share listing on the New York stock exchange
- Ten per cent of the club will be available for purchase
- The Glazer family, the club's controversial owners, look set to pocket half of the money raised
- The club is thought to be in roughly $663 million of debt
London (CNN) -- Manchester United has launched their listing on the New York Stock Exchange, Monday, with 16.7 million shares, representing 10 per cent of the club, up for sale.
Reports say that the shares should start trading somewhere between $16 and $20, with the club hoping to raise more than $300 million in the process.
However, the prospectus that accompanies the listing appears to suggest that the money raised will be split between the club and its owners, the Florida based Glazer family.
Manchester United lists stock on NYSE
Man City's last gasp goal wins title
Del Piero's Juventus love affair
The Glazers have been controversial owners of the club, with fans angry at the family's leveraged buyout in 2005. There are reports that, as of March 31st this year, the complicated financial deals used to buy the club have left the 19-times league champions with around $663 million of debt.
"Manchester United today commenced its initial public offering of 16,666,667 Class A Ordinary Shares," said a statement issued by Sard Verbinnen & Co, the public relations firm hired by the English club to oversee the initial public offering (IPO) of shares.
"The Class A Ordinary Shares will be listed on the New York Stock Exchange and will trade under the symbol "MANU.""
Earlier in the day, the club announced a new sponsorship deal with General Motors. The seven year agreement will see the Chevrolet brand displayed on the front of United's shirts from the start of the 2014-15 season.
Today's five most popular stories
Part of complete coverage on
September 10, 2014 -- Updated 1328 GMT (2128 HKT)
He's just 15 and the world is seemingly already at his feet. Norway's Martin Odegaard is provoking huge media interest and the hungry attention of Europe's top clubs.
August 15, 2014 -- Updated 1151 GMT (1951 HKT)
Last season Jose Mourinho wrote off the title of hopes of his "little horse" -- but now he has a squad primed to dethrone Manchester City.
August 14, 2014 -- Updated 1858 GMT (0258 HKT)
Luis Suarez will have to wait until late October to make his competitive Barcelona debut his ban for biting an opponent was partially upheld.
August 14, 2014 -- Updated 1649 GMT (0049 HKT)
Can Louis van Gaal cut it at Manchester United? Will Bayern conquer all in Germany? Is this PSG's year to win the Champions League?
August 7, 2014 -- Updated 1012 GMT (1812 HKT)
It's been a difficult year for Barcelona on and off the pitch, and the signing of Luis Suarez has only increased the prospect of more controversy.
August 11, 2014 -- Updated 1435 GMT (2235 HKT)
Germany striker Miroslav Klose, who scored a total of 16 goals at four World Cup finals, has announced his retirement from international football.
July 31, 2014 -- Updated 1145 GMT (1945 HKT)
When celebrating an important anniversary, it's always good to look your best. At least that's theory for a Spanish football team's preseason tuxedo kit.
July 30, 2014 -- Updated 1103 GMT (1903 HKT)
While many top European clubs are targeting the U.S. market, French football is setting its sights on expanding into Asia -- with China playing a key role.
July 27, 2014 -- Updated 1229 GMT (2029 HKT)
Major League Soccer has snared another big name from England with former Chelsea star Frank Lampard committing his future to New York City FC.
July 23, 2014 -- Updated 1656 GMT (0056 HKT)
Europe's top clubs have booked a summer holiday to the U.S. -- but this is business not pleasure as they look to cash in on the World Cup afterglow.
July 22, 2014 -- Updated 1828 GMT (0228 HKT)
Former World Cup-winning captain Dunga is appointed coach of Brazil's national team for the second time, charged with restoring national pride.
July 22, 2014 -- Updated 1420 GMT (2220 HKT)
Colombia's World Cup star James Rodriguez continues Real Madrid's long tradition of signing "Galacticos."
July 21, 2014 -- Updated 1007 GMT (1807 HKT)
Germany's World Cup-winning captain Philipp Lahm has decided to go out at the top by announcing his retirement from international football.