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Manchester United's value tops $3 billion

Shares of the English soccer team, which were offered to the public in August at $14, did poorly at first but have soared the last few days.

January 28, 2013|Staff and wire reports
  • Manchester United has become the first sports team in the world worth more than $3 billion.
Manchester United has become the first sports team in the world worth more… (Jon Super / Associated Press )

Manchester United has become the first sports team in the world with a $3-billion valuation, Forbes.com reported.

Shares of the English soccer team, which were offered to the public in August at $14, did poorly at first but have soared the last few days. Last seen at just under $17, Manchester United's stock has outperformed the S&P 500 since its initial public offering and made the controlling Glazer family and legendary investor George Soros, who bought a big stake in the team shortly after it went public, wealthier.

The recent increase in its stock price has pushed up Manchester United's enterprise value (equity plus debt) to $3.3 billion, the highest value of any team in the world. The second-most-valuable sports team in the world is the NFL's Dallas Cowboys, worth $2.1 billion.

BASEBALL

The UCLA baseball team has been ranked No. 2 in the USA Today/ESPN top 25 coaches' preseason poll. The Bruins, who reached the College World Series for the second time in three seasons last year, received four first-place votes in the poll.

Arkansas came in at No. 1 in the preseason poll, followed by the Bruins, Louisiana State, North Carolina and South Carolina. Oregon, Stanford, Vanderbilt, Florida State and Arizona rounded out the top 10.

ETC.

For the fifth consecutive year, Unusual Heat has been named the champion horse sire in California after having the most progeny by earnings in 2012. The 23-year-old stallion also won the award for being the leading turf sire by earnings for the ninth consecutive year.

Unusual Heat, based at Harris Farms in Coalinga, has been booked to 60 mares for the coming year at $20,000 for each mating.

—Eric Sondheimer

::

Defenseman P.K. Subban signed a two-year, $5.75-million contract with the Montreal Canadiens.

Subban, who was a restricted free agent, will be paid a prorated $2 million this season and $3.75 million in 2013-14 for an annual salary-cap hit of $2.875 million.

The 23-year-old will join the team on Wednesday in Ottawa, but it was unclear whether he would play that night.

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