Manchester United ,Ownership and finances
Yorkshire Railway Company Manchester United
Originally funded by the Lancashire and Yorkshire Railway Company, the club became a limited company in 1892 and sold shares to local supporters for £1 via an application form. In 1902, majority ownership passed to the four local businessmen who invested £500 to save the club from bankruptcy, including future club president J.H Davies.] After his death in 1927, the club faced bankruptcy yet again,
A beautiful picture of Manchester United, Ownership
James Manchester United
but was saved in December 1931 by James W. Gibson, who assumed control of the club after investing £2,000.[20] Gibson promoted his son, Alan, to the board in 1948but died three years later; the Gibson family retained ownership of the club,[ but the position of chairman passed to former player Harold Hardman.
Louis Edwards Manchester United
Promoted to the board a few days after the Munich air disaster, Louis Edwards, a friend of Matt Busby, began acquiring shares in the club; for an investment of approximately £40,000, he accumulated a 54 percent shareholding and took control in January 1964When Lillian Gibson died in January 1971, her shares passed to Alan Gibson who sold a percentage of his shares to Louis Edwards' son, Martin in 1978;
Martin Edwards
Martin Edwards went on to become chairman upon his father's death in 1980 Media tycoon Robert Maxwell attempted to buy the club in 1984, but did not meet Edwards' asking price.[] In 1989 chairman Martin Edwards attempted to sell the club to Michael Knighton for £20 million, but the sale fell through and Knighton joined the Board of Directors instead.
the stock market Manchester United
Manchester United was floated on the stock market in June 1991 (raising £6.7 million),[ and received yet another takeover bid in 1998, this time from Rupert Murdoch's British Sky Broadcasting Corporation. This resulted in the formation of Shareholders United Against Murdoch – now the Manchester United Supporters' Trust – who encouraged supporters to buy shares in the club in an attempt to block any hostile takeover. The Manchester United board accepted a £623 million offer,[116] but the takeover was blocked by the Monopolies and Mergers Commission at the final hurdle in April 1999 A few years later, a power struggle emerged between the club's manager, Alex Ferguson, and his horse-racing partners, John Magnier and J. P. McManus, who had gradually become the majority shareholders. In a dispute that stemmed from contested ownership of the horse Rock of Gibraltar, Magnier and McManus attempted to have Ferguson removed from his position as manager, and the board responded by approaching investors to attempt to reduce the Irishmen's majority.
Video player Manchester United
In May 2005, Manchester United
Malcolm Glazer purchased the 28.7 percent stake held by McManus and Magnier, thus acquiring a controlling interest through his investment vehicle Red Football Ltd in a highly leveraged takeover valuing the club at approximately £800 million (then approx. $1.5 billion). In July 2006, the club announced a £660 million debt refinancing package, resulting in a 30 percent reduction in annual interest payments to £62 million a year.In January 2010, with debts of £716.5 million ($1.17 billion),[ Manchester United further refinanced through a bond issue worth £504 million, enabling them to pay off most of the £509 million owed to international banks.[ The annual interest payable on the bonds – which mature on 1 February 2017 – is approximately £45 million per annum. Despite restructuring, the club's debt prompted protests from fans on 23 January 2010, at Old Trafford and the club's Trafford Training Centre.] Supporter groups encouraged match-going fans to wear green and gold, the colours of Newton Heath. On 30 January, reports emerged that the Manchester United Supporters' Trust had held meetings with a group of wealthy fans, dubbed the "Red Knights", with plans to buying out the Glazers' controlling interest.
Match for the Manchester United
In August 2011, Manchester United
the Glazers were believed to have approached Credit Suisse in preparation for a $1 billion (approx. £600 million) initial public offering (IPO) on the Singapore stock exchange that would value the club at more than £2 billion.[129] However, in July 2012, the club announced plans to list its IPO on the New York Stock Exchange instead Shares were originally set to go on sale for between $16 and $20 each, but the price was cut to $14 by the launch of the IPO on 10 August, following negative comments from Wall Street analysts and Facebook's disappointing stock market debut in May. Even after the cut, Manchester United was valued at $2.3 billion, making it the most valuable football club in the world.
Source-http://en.wikipedia
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