Manchester United stocks soar at NYSE, club value hits $ 4bn

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Manchester United club valuation has reached $4 billion mark at club shares soared to a record high at the New York Stock Exchange.

The value of the English Premier League club, with a record 20 top division titles, hit $24, escalating Manchester United evaluation to a record high of $4 billion with a 14 per cent spike since the July end. The previous high came in September last year, when the share priceshit $21.50. The development has reinforced the Manchester United position as the world’s most valued football club.

After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost £800 million ($990 million). The takeover had made the club a private company, which went to public again in August 2012, when it made an initial public offering on NYSE.

Despite a lacklustre start this season, which saw Manchester United going down to Brighton last Sunday and no major transfer signings this summer, the club has managed to keep its brand value and goodwill at an unprecedented high with an incomparable commercial success.

Also Read: Premier League: Man U launches campaign as leader in sponsorship revenues

Whether its comes to most expensive kit deal, record sleeve sponsorship, official shirt sponsorship, club revenues or highest paid managers in the European club football, Manchester United now rules it all. The club has launched its 2018-19 campaign as the leader in the annual aggregate sponsorship revenue from all the streams (Chest, kit and sleeve.).

Also Read: Premier League right on top among ‘Big 5’ for highest paid managers

Since July, Manchester United has been able to rev up its commercial prowess by signing new key sponsors such as Kohler, MoPlay, Chivas, and ICICI Bank. The deal with sleeve sponsor Kohler is reportedly estimated between $25 and $27.5 million per season.

The club, according to Forbes’ evaluation, is estimated at $4.123 billion, which puts it into the league of few sports teams around the world that have crossed the $4 billion mark. NFL club Dallas Cowboys and Spanish football giants Real Madrid and Barcelona are a few to name. Among them Cowboys are the world’s most valued sports team at $4.2 bn as per Forbes’ 2017 valuation and ranking list.

Also Read: ICICI Bank inks multi-year deal with Manchester United