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Can Soccer Translate Into Good Business?

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  • Description

    FBN's Robert Gray on Manchester United's IPO.

  • Duration 1:26
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-- -- Soccer -- them even more popular in the US but can that translate into good bit yes the world's most famous British football club sure -- so Robert Gray has -- story and joins us now Robert.

Yeah -- did -- CI English invasion here Manchester United looking to go public.

And that their IPO pretty richly priced -- filed last night sixteen point seven million shares a range sixteen to twenty bucks a share that would -- 333.

Million dollars valuing the club up to 3.3 billion dollars.

Or five times sales and that's too rich for some experts I spoke with finance professor Jay Ritter at the university -- IPO expert says.

He thinks the price is so high the public market investors can expect a low return says if you want to overpay Dennis -- lots of other opportunities out there.

Our plan to use these -- proceeds to pay down their debt they've.

Debt burden almost three quarters of a billion dollar since Malcolm Glazer yes the same and owner of the Tampa Bay Buccaneers in the NFL.

Took over the team in 2005 and you gotta pay big bucks to keep the likes of Wayne Rooney in writing gigs on the club and keep winning this championships.

They do bill themselves as the world's most famous.

And most popular football team -- 659 million fans guys and the did you sign on General Motors famously -- that new deal for the shirts and which GM's -- marketing chief got ousted -- yeah.

Wow OK so the three billion dollar valuation that's about triple the Dallas Cowboys that's evil rich that seems a little rich indeed what will the fans views a hundred bucks to buy shares or -- --

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