Tag Archives: properties

Manchester United set for New York stock exchange

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Glazers prepare for cash injection with Man United set for New York stock exchange

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UPDATED:

14:21 GMT, 9 August 2012

Fantasy football 2012

Manchester United are ready to kick off their stock market flotation in a move which could value the club at more than 2billion.

The club, bought by the Glazer family in 2005 for about 800million, will offer 16.7million shares, equal to a 10 per cent stake, which are set to price later at between 16 and 20 US dollars (10-12) before listing on the New York Stock Exchange on Friday.

United, who claim to have a global fanbase of about 660million and have won a record 19 English league titles, would be valued at 2.1bn at the top range, making it one of the world's most valuable sports teams.

Down to business: United will float on the New York Stock Exchange

Down to business: United will float on the New York Stock Exchange

The US-based Glazer family, which is set to make about 90million from the flotation, failed to garner sufficient demand in previous efforts to sell shares on exchanges in Hong Kong and Singapore.

Analysts at data provider Morningstar told the Financial Times that 10 dollars (6) a share would be a fair value, adding: 'Shares could trade at a significant premium to our fair value estimate if the market values the soccer team in line with other successful sports franchises.'

The remaining proceeds raised in the initial public offering (IPO) will be used to pay down some of the 134-year-old club's debt, which was last reported to be around 423m.

Although the listing has been planned for some time, the Glazer family originally claimed all the proceeds would go towards United's debt, angering fans.

A successful IPO would reportedly result in investors owning 42 per cent of the shares available but only carrying voting rights of 1.3 per cent.

Top man: Wayne Rooney is one of United hot properties

Top man: Wayne Rooney is one of United hot properties

Earlier this month, a leading Manchester United fans' group called for a boycott of the club's expanding portfolio of sponsors in protest at the planned flotation.

A statement from the Manchester United Supporters Trust (MUST) read: 'The Manchester United Supporters Trust has today called for a worldwide boycott of Manchester United sponsors' products, with support across the UK, Europe, Asia and the US.

'The boycott strategy is intended to send a loud and clear message to the Glazer family and club sponsors that, without the support and purchasing power of the fans, the global strength of the Manchester United brand doesn't actually exist.'

MUST have tried such tactics before during the Glazer regime, although it has not prevented the Red Devils' territory-specific approach allowing them to become the first club to smash through the annual 100m barrier for commercial revenue alone.

Arsenal want Olivier Giroud

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Arsenal line up move for Montpellier's 50m-rated France forward Giroud

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UPDATED:

21:30 GMT, 3 April 2012

Arsene Wenger has instructed chief French scout Gilles Grimandi to compile a dossier on Montpellier striker Olivier Giroud.

The Gunners manager – together with chief scout Steve Rowley – has identified the France international as a potential summer signing.

And Wenger has asked former Arsenal defender Grimandi to keep a close eye on Giroud’s form between now and the end of the season.

Highly-rated: Montpellier have slapped a 50m price-tag on Olivier Giroud

Highly-rated: Montpellier have slapped a 50m price-tag on Olivier Giroud

Grimandi will report back to Wenger with his assessment on the 25-year-old centre forward towards the end of the current campaign.

Giroud is viewed as one of the hottest properties in France having followed up last season’s 14 goal haul with 22 so far this season.

Arsenal are not the only club who are showing an interest in Giroud, who has three international caps.

Newcastle scout Graham Carr has recommended Giroud to manager Alan Pardew, while Bayern Munich and Juventus are also keen.

Negotiating a fee could prove difficult, however, after Montpellier owner Louis Nicollin said recently that it would cost at least 50million to prise Giroud away from France.

Head over heels: Giroud has scored 22 league goals this season

Head over heels: Giroud has scored 22 league goals this season

Despite having already bagged Lukas Podolski, Wenger wants to bolster his attacking options for next season.

Marouane Chamakh’s Gunners career is as good as over after he was pictured with a shisha pipe just hours after Arsenal’s shock 2-1 loss against Queens Park Rangers.

The Morocco international insists he still has a career at the Emirates Stadium after telling French magazine Onze: ‘Am I going back to Bordeaux For now, no.

‘I have spoken to Wenger and I will stay at Arsenal. I think he trusts my work and I will have opportunities in the first team.

France international: Giroud has scored once in three caps for his country

France international: Giroud has scored once in three caps for his country

‘I left Bordeaux to improve as a player and I think I can continue for this club. My agents have been ordered to reject bids that come from other clubs because I want to prove I can be useful for the Gunners.’

But Wenger does not take a lenient view on professional footballers smoking and publicly reprimanded William Gallas in 2008 after the then Gunners defender was snapped with a cigarette in his mouth.

And Wenger is resolved to sell Chamakh this summer, with his shisha escapade the final straw for the Gunners manager.

Arsenal will also put Nicklas Bendtner, Park Chu-young and Carlos Vela up for sale, clearing the path for Giroud’s arrival.

Manchester United"s Park Ji-sung asked to back frog saving campaign

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Hopping mad! Park asked to support campaign to stop South Koreans eating frogs

Manchester United midfielder Park Ji-sung has been asked by to help protect the future of frogs in his native South Korea amid growing concerns about consumption rate in the country.

Park has been targeted by an environmental group after he once admitted to drinking juice made from boiled frogs to build his physique.

Lobby group 'Frogs Friends' said consumption of frog juice had surged since Park's 2006 autobiography in which he said he had drunk it as a tonic, and said they would lobby the international and Premier League star to join their campaign.

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Plea: Park Ji-sung admitted to drink frog juice in his youth to make him stronger

'I do not know if it is just coincidence but after it was revealed… that Park eats frogs as a means to boost his strength, the number of cases of illegal poaching of frogs and toads residing in mountains has increased,' campaign organiser Park Wan-hee said.

Since its establishment in 2007, Frog's Friends has been campaigning to stop Koreans killing amphibians for perceived health properties.

Park is South Korea's best known, and most popular, player and said that his father had fed him frog juice to boost his stamina.

'If Park joins our campaign to stop the practice, it would correct people's misconceptions about eating frogs, believing it will raise their stamina,' said the lobby group.

Doug Ellis humbled at knighthood in New Year"s Honours

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Arise, Sir Doug… Ellis “humbled” after receiving knighthood in New Year”s Honours

Former Aston Villa chairman Doug Ellis is “delighted and humbled” by the award of a knighthood in the New Year Honours list.

Ellis, who celebrates his 88th birthday on January 3, has been recognised for his services to charity.

The self-made millionaire has invested heavily in hospitals and other charitable projects over the past three decades, with a particular emphasis on youth and sport.

Humbled: Doug Ellis

Humbled: Doug Ellis

Cheshire-born Ellis, who stepped down as Villa chairman in 2006, said:

“I”m delighted and humbled by the honour. I”m so humble I can”t believe.

“Everyone calls me Doug so I guess I”ll be called Sir Doug now.”

Ellis earned the nickname “Deadly Doug” during his time at the Villa Park helm for his reputation for sacking managers.

He first took over the club in 1968 but left in 1979 before returning in 1982 and remaining in charge until the sale to Randy Lerner five years ago.

Ellis said: “I do miss it but I remain as president emeritus and as part of the deal I get my seats in the boardroom, seats in the directors” box and directors” box tickets for away matches.

“Randy Lerner is the owner of the Cleveland Browns and is committed there.

“He doesn”t come too often and together with Paul Faulkner we look after his interests. I don”t miss a game.”

Ellis, whose father died when he was just three, rose from a humble background to make his fortune in the package holiday industry.

He went on to establish a construction company and owned properties at home and abroad.

His charity work began when he donated holidays as raffle prizes and grew into raising more than 6million to build Little Aston Hospital, the first of many projects.

Ellis, who has fought cancer himself, said: “That started it off and since then I have been very active in charities, particularly with children and youth and in sport.

“My wartime service in the Far East brought home to me just how little some people have and I have always tried to give something back.

“It has been a privilege for me to help so many local institutions and charities to further their work and influence.”

Ellis said he is happy with the current state of the club, which he sold to Lerner for 65million.

He said: “I kept it stable, in the black. I don”t borrow money because you only have to pay it back with interest. That”s old-fashioned country boy thinking.

“I sold it without a penny of debt, which is unusual for a football club, to a good man five years ago.”

Yet although he will now be known as Sir Doug, Ellis admits the name “Deadly” will probably endure.

He said: “I”ve even called my boat Deadly.”