Manchester United valued at record $4 billion: Forbes
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Manchester United have become the world's first sports team to be valued at more than $3 billion, according to Forbes magazine. -- PHOTO : BLOOMBERG
NEW YORK (AFP) - Manchester United have become the world's first sports team to be valued at more than US$3 billion, according to Forbes magazine.
A recent surge in the stock price of the English Premier League outfit has boosted the team's value to US$3.3 billion (S$4.1 billion), a story posted on the magazine's website reported.
United's most recent quarterly report four months ago listed their long-term outstanding debt at US$560 million.
Shares of the team were offered to the public last August at US$14 but are just under US$17, boosting the wealth of the Glazer family, which has voting control of almost all of the team.
