The English club Manchester United ,one of the most popular soccer clubs in the world & bought by the Glazer family in 2005 for £790m, is going public & offering 16.7m class A shares at between $16 and $20 each. The IPO will raise $330m and value the club at $3.3bn. At $18 per share, Man Utd would have a market capitalisation of $2.95bn with an enterprise value including debt of $3.38bn. The Glazers however may profit hugely as they still own 89.8% of the shares.
Under the terms of the sale, by which they are selling one-tenth of the club to the public, the Glazer family will keep the proceeds from the sale of 8.33m shares with the rest being used to pay down existing debt, last reported at £423m.