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.
Some of the biggest names in football lined up for a charity match, but CNN's Tom McGowan wonders if they can help beat poverty.
March 4, 2014 -- Updated 1555 GMT (2355 HKT)
"Everyone is scared about war -- they are very nervous," former Ukraine football star Oleg Luzhny says of the rising tensions with Russia.
After a miserable Champions League defeat to Olympiakos, CNN's John Sinnott wonders if Manchester United is officially in trouble.
February 26, 2014 -- Updated 1807 GMT (0207 HKT)
Bayern Munich's present success rests on one key decision, chairman Karl-Heinz Rummenigge tells CNN.
February 18, 2014 -- Updated 0922 GMT (1722 HKT)
"More than a Club." It is an image Barcelona has carefully cultivated, but could the controversial deal to sign Neymar sour that view?
CNN's David Ford analyzes the changing face of Manchester City since Barcelona's last visit to the English club 11 years ago.
February 1, 2014 -- Updated 1825 GMT (0225 HKT)
Affectionately known as "the wise man of Hortaleza," Luis Aragones -- who died aged 75 -- left the legacy of helping Spain's ascension to the top.
January 23, 2014 -- Updated 2118 GMT (0518 HKT)
Real Madrid hasn't won the European Champions League in over a decade, but the Spanish club is invincible in one field -- making money.
January 16, 2014 -- Updated 1449 GMT (2249 HKT)
A ruling that Polish fans will not face legal action after anti-Semitic chanting sparks debate over whether it signals acceptance of such attacks.
The naming of the world's best footballer is not all that it seems, says CNN's James Masters.
If FIFA really cared about gay rights, why did it give the World Cup to a country where homosexuality is illegal, asks CNN's James Masters.
CNN's Alex Thomas takes a brave punt on the 2014 champion ahead of Friday's World Cup draw.
Today's five most popular stories