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.
Part of complete coverage on
Be part of CNN's coverage of European Champions League matches and join the social debate.
May 23, 2013 -- Updated 1052 GMT (1852 HKT)
When Germany's two biggest soccer clubs go head-to-head in the Champions League final, there can only be one winner: German industry.
May 22, 2013 -- Updated 1356 GMT (2156 HKT)
The Bundesliga model of sustainability is very much in vogue. But are Bayern Munich and Borussia Dortmund creating a dangerous duopoly?
May 23, 2013 -- Updated 1106 GMT (1906 HKT)
Bayern Munich super fan Boris Becker takes a tour of London ahead of the 2013 Champions League final.
May 23, 2013 -- Updated 1015 GMT (1815 HKT)
CNN takes an exclusive look at the venue of the Champions League final between Bayern Munich and Borussia Dortmund.
CNN's Pedro Pinto gives his analysis of the Champions League final between Bayern Munich and Borussia Dortmund.
May 17, 2013 -- Updated 1710 GMT (0110 HKT)
David Beckham embraced his tag as a "gay icon" and has been credited with breaking the big taboo -- homosexuality in football.
May 13, 2013 -- Updated 0750 GMT (1550 HKT)
'King' Alex Ferguson is quitting Manchester United but the $3.17 billion brand will survive, according to experts.
May 7, 2013 -- Updated 1418 GMT (2218 HKT)
Italian football lags behind its other European rivals commercially, but newly-crowned Italian champions Juventus is showing Serie A clubs an example of revival.
April 24, 2013 -- Updated 1434 GMT (2234 HKT)
Luis Suarez's biting of Branislav Ivanovic is the latest episode of moments of madness when soccer stars behave badly.
March 29, 2013 -- Updated 0938 GMT (1738 HKT)
Sunderland's partnership with the Nelson Mandela Foundation is part of its bid to woo the African market.
March 28, 2013 -- Updated 1558 GMT (2358 HKT)
Each year as many as 700 Cameroonian young footballers leave Africa in search of a professional career abroad.
May 6, 2013 -- Updated 1201 GMT (2001 HKT)
Referees across Europe are feeling the heat. Insulted, threatened, chased off the field, attacked, hospitalized and, tragically, killed.
February 26, 2013 -- Updated 1225 GMT (2025 HKT)
Footballers have a battery of physios, fitness trainers and doctors all striving to fine-tune their physique -- but are they missing a trick?
February 26, 2013 -- Updated 1424 GMT (2224 HKT)
No Englishman has won the EPL title in over 20 years, while a leading manager reveals that English coaches are now "not respected abroad."
May 13, 2013 -- Updated 0933 GMT (1733 HKT)
Hardcore Italian football "ultra" Federico is a Lazio supporter who happily admits directing monkey chants at black players.
March 5, 2013 -- Updated 1123 GMT (1923 HKT)
When Jupp Heynckes made his Bundesliga debut as a player in 1965, the name of Bayern Munich was a new one for the nascent German league.
February 19, 2013 -- Updated 1902 GMT (0302 HKT)
Football's world governing body FIFA has confirmed it will use goal-line technology at the 2014 World Cup in Brazil.
February 19, 2013 -- Updated 1403 GMT (2203 HKT)
Match-fixing has become a worldwide issue, with hundreds of matches under investigation -- but how do you actually fix a football game?
February 18, 2013 -- Updated 1700 GMT (0100 HKT)
U.S soccer star Robbie Rogers has "come out" as gay on the day he retired from the game, making the announcement on his blog.
February 11, 2013 -- Updated 2231 GMT (0631 HKT)
The wealth of owners like Chelsea's Roman Abramovich often fuels success, but for other clubs such backers prove a mixed blessing.
January 30, 2013 -- Updated 1342 GMT (2142 HKT)
The Secret Footballer reveals the complex issues surrounding racism in the English Premier League.
Today's five most popular stories