Manchester United said the controlling Glazer family was considering a possible sale of the soccer club.
The timing could be better. At its 2018 peak, New York-listed Manchester United Ltd. had a market capitalization of more than $4.2 billion. While the stock surged Tuesday, it remains way below its pinnacle, closing with a market cap of slightly less than $2.5 billion, according to Refinitiv data. Other listed soccer clubs have also traded down in recent years.
Another complication: potential competition for bidders, with news earlier this month that Fenway Sports Group is exploring a full or partial sale of rival Liverpool FC.
Still, it is hard to estimate sale prices for trophy assets like this, given their rarity and their potential appeal to deep-pocketed buyers who may not be thinking entirely in financial terms.
Earlier this year one of the team's main English Premier League rivals, Chelsea Football Club, sold for more than $5 billion to a group led by Los Angeles Dodgers part-owner Todd Boehly. Man Utd. didn’t mention any potential buyers. There will likely be a long list of prospects, though Russian oligarchs are presumably out of the picture.