Manchester Utd IPO - Soccer Stars Or Media Moguls ?

IFR reports that Football powerhouse Manchester United is expected to launch its IPO in New York as early as this week, for pricing in early August, after earlier attempts in Hong Kong, Singapore and the UK.

The time table marks a change from the original schedule to proceed after the U.S. Labor Day holiday September 3rd, according to multiple sources close to the situation.

In another change, the football club is now looking to raise $300m the IPO, less than the $500m previously contemplated. The decision on timing and sizing is still fluid and could change, depending on the regulatory review process.

Jefferies is lead-left bookrunner in a syndicate that also includes Credit Suisse, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank.

Video source - Reuters