Manchester United Seeks $300 Million from IPO

British soccer franchise Manchester United, the world's most valuable sports club, is said to be seeking $300 million when it goes public in August.

reported this week that Manchester United, currently without a trophy after missing out on the English Premier League title to local rivals Manchester City, is the world's most prized sports club with a value of $2.23 billion. Second is Spanish soccer club Real Madrid at $1.88 billion. The New York Yankees and the Dallas Cowboys are joint third at $1.85 billion, while the Washington Redskins are fifth with $1.56 billion. Manchester United traded on the London Stock Exchange until 2005 when American owners the Glazer family took the organization private. As the club dares to go public again this August, its 659 million fans worldwide will have the opportunity to own a slice of the team. However, with Chelsea winning the FA Cup and Liverpool the Carling Cup last season, those fans might have to wait a while before success comes their way once more. The IPO should help, especially as the club looks to reduce its current debt which stands at roughly $663 million. It is impressive that, even with that amount of debt, it still remains the world's most valuable club. According to

, Manchester United originally planned to go public in Singapore but that idea was scrapped in favor of a U.S. offering. The offering is being led by Jefferies & Company, Credit Suisse and J.P. Morgan Chase, and is sure to be popular due to the level of success that the team has enjoyed in the recent past leading to a huge following around the world. However, with Manchester City and its billionaire owners taking the English title last season, many experts are predicting that United will struggle again this coming season. They have yet to invest heavily in players that will set the league on fire, despite some of the older players are leaving and opening up spots on the team. If United wants to set the stock market, and indeed the EPL, on fire, it has work to do.