Want to Own a Sports Team?
Manchester United has, according to Reuters, filed a $100M IPO on the New York Stock Exchange. Interesting because the U.S. is just about the only country in the world not that hooked on soccer. Just today, TV pundit Stephen Colbert joked that we were given hands and opposable thumbs for a reason, implying that soccer, the only major sport which doesnt require the use of hands, is "primitive."
This IPO is also interesting because it might be the start of a larger trend of sports teams going public to fund operations or raise capital to pay off debt. Manchester United is definitely a major player in the soccer world, having been English champions 19 times, and if its IPO is successful, other sports teams may take note.
Personally, I hope to someday be able to invest money in some NBA teams like the Miami Heat or Boston Celtics (although as long as Howard Stern is commissioner, there is probably no chance of this happening).