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A bit of red on the screen the first sports team to go public in the United States in fourteen years.
Debuted on the New York Stock Exchange today the Cleveland Indians listed in 1998.
-- -- very long -- went private once again about a year later so will the UK's Manchester United.
Have a federal Iraq.
But shaken up entertainment find out can't accept everything went public at fourteen dollars we're -- right now we -- we could see that it really isn't doing much out of -- -- Trading at fourteen dollars it's essentially not going anywhere in this is smaller IPO than what the owners.
Had -- for -- much better to go back to 1998 goes Sid Jacobs Field with the Cleveland fans but look.
David -- Manchester United CEO is very happy with this IPO and here's what he said earlier today about it.
They are in the club they're entitled that there was no money it within the -- that they've they're in the club -- -- -- upon that through investors who want to be part of -- again for the I think.
What I would say is that you have the level of debt that we've had in the clubs is they've taken hasn't -- bottle plant site hasn't.
An impact from what we've done.
None of the team -- And -- is defending the current owners have come under great deal of criticism that Glazer family here in the United States because they've loaded up dead on the team when they purchased it in 2005 a lot of the fans Liz.
We're hoping that this IPO would be a total -- the stock price would drastically -- -- some white -- would comment and by the team in takeover.
Yeah only only fans like that would put Yahoo! needs when you know -- soccer fans are pretty harsh you know goodness all right Nicole -- eighties.
-- by the way everybody played division one soccer during her college career.
What you think of -- I think this is really a classic -- 134 year old franchise here.
That's right -- -- -- an old old -- that dates back a 134 years -- stock was priced below the original price right which would have been two dollars above the fourteen dollars.
It's barely hold in the fourteen dollar mark we've seen -- trying that level over and over again.
So think -- soccer is the world's most popular sport.
And they certainly came in the near stock exchange with money it won't live -- there isn't anybody.
On this -- -- -- know about menu today -- in the soccer balls in the soccer Jersey experience square outside live sending you and I could add some finally get a shot on.
-- -- Maybe Adams -- up.
Well yeah -- -- a lot of hot here today that would see what happens with the stock well little known fact.
About me is that I could do the -- bicycle kick.
No -- challenges yeah acting in its.
-- -- -- go to Italy Netherlands kicks like in the movie victory what bring -- nick Einhorn he has an analyst at Renaissance capital he's joining us now from Stamford Stamford Connecticut.
-- -- what's not to love broadcasting revenue up 14% ticket revenue up so my question then becomes.
Is this a company that you would even consider and look at.
I think there's -- a lot of good things about -- the united obviously the brand is one of the most Bible and sports.
And -- they do look pretty stable revenue base in the commercial.
Our side of broadcasting and match day.
I'm gonna suffer high growth so I think the real appeal -- -- that commercial segment.
Which is -- a lot they -- you deal with Chevrolet which is more than double last shirt sponsorship they've got other avenues for growth in you know Asia Latin America.
But I think the real questions kind of what's what's the business worth and how much we pay for that the growing business and and more stable broadcast.
What -- so is fourteen dollar state do you see any opportunity for this thing to go higher in the next six months.
I think -- price take awhile for to go up I think.
Really the company -- they have contract for the have to kind of prove that.
I'm -- and continues to build on that and that the team performance can recover from from -- where they're not have the champions league early which.
Had a negative impact on.
The the broadcasting revenue.
And also just from a team perspective Manchester City won the title last year they spend a lot of money in player's.
And the their team manager -- person is seven years old he's probably retiring soon.
And the question will they be able to kind of weather that transition today -- the next manager continued sick keep up their success.
Right remember again the Indians went public 98 -- private 99 thank thank you very much and I would I will tell a little but ultimately -- secret she was at her apartment went to kick the soccer ball -- -- You can -- your pets how hard it didn't get your kid write music kind.
That's absolutely -- that's not fair and I found like a terrible lot and you sell my guess topic check -- I think it's great I love.
Finally they know who did an eight show last year Danielle but didn't because the market conditions and I finally got a near the -- its stock exchange makes you wonder if maybe then -- might have been.
Time good to see all of -- that's -- again.
There you go glory glory --