Manchester United value exceeds $3bn
Report says United are first sports team to break that barrier
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Manchester United have become the first sports team in the world to be valued at more than 3billion US dollars.
A surge in the club's shares after a poor start when they were offered on the New York Stock Exchange in August has seen the overall value of United rise to 3.3billion US dollars (£2.1billion).
According to Forbes, United are comfortably ahead of the world's second-most-valuable sports team, the NFL's Dallas Cowboys, worth 2.1billion dollars (£1.4billion).
The United shares were initially offered to the public at 14 dollars and are now worth just under 17 dollars.
It means a huge increase in the overall wealth of the Glazer family, who have a controlling interest in United, and billionaire investor George Soros - the 22nd richest person in the world - who bought a 7.5 per cent stake in the club.
United's commercial growth appears to be driving the share price up, with the club announcing several new sponsorship deals since August, qualifying for the Champions League knockout stages, and with the prospect of the new bumper Premier League television deals that are coming on stream from August.
The Glazers sold 10 per cent of their shares in the initial public offering sale in August but United's vice-chairman Ed Woodward insisted in October the family will not sell the club for "many, many years" despite ongoing interest.
Woodward said they had no interest in cashing in the rest of their holding.
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments