Manchester United will be trading on the New York Stock Exchange's Euronext by the end of the week but for me, they might be a sell rather than a buy.
They will be known as MANU for trading purposes:
Shares are expected to trade between $16 and $20 so we will wait and see but I get the feeling that this could be a little like Facebook with shares peaking early on then dropping.
I'd be lying if I said I've done an in-depth analysis of the club or anything - but it's just a general hunch. They have debts of $684 million and although that's reduced somewhat recently, it's still a hell of a lot.
The buyers will point to the worldwide fan base and United are said to be the biggest supported club in the world - but that's already going to be priced in. Plus, what if they go downhill? Not entirely impossible. Ferguson won't be in charge forever and there will be changes over the next few years. For better or worse remains to be seen. Even a small dip in form on the pitch will see them lose money and that might have an effect on the price. They need the TV money, the Champions League money etc etc so that all depends on performance. In fairness though, that's not dissimilar to any other business I guess.
Their fanbase will grow depending on success and I think buyers have to factor that into the equation.
Like facebook, you always get the people and fans who want to buy shares and be part of the story. This often inflates the price early on but once the shares are sold to these people, the demand wanes. If I see this happen, I may get in and sell. One to watch anyway!
Quite proud of my caption here, by the way:
The Theatre of dreams - will it prove nightmare for MANU buyers?
Not a bad old day on the racing yesterday with Rising Legend winning at a Betfair SP of 3.37. I've one bet today, here's Timeform's comment. It looks like the filly will go off around evens:
6.20 Chepstow - Smart Daisy K
Plenty of speed in pedigree and made a pleasing start when ¾-length second of 9 to Redressthebalance (good winner since) on 5.7f Bath debut (good to soft ground) in June. The one to beat.
Very proud of the Irish medals in the Olympics yesterday. Katie Taylor was her usual brilliant self and goes for gold this evening. It would be absolutely fantastic if she wins and she has really given the nation a boost - especially after a woeful Euro 2012. Please God, she goes all the way to gold.
Paddy Barnes became the first Irish boxer to win medals at separate Olympic Games - a fantastic achievement. He had a tough fight last night but got there in the end. He's up against it now but best of luck to him and he has already done his country proud.
Cian O'Connor won bronze too and despite the odd negative comment, I'm glad for him. What happened in the past happened and I wouldn't condone it - but he's done the time for the crime so to speak, and I believe that every man deserves a second chance in life. He's learned from his mistake and to overcome his demons and go back and win a medal at this level, despite the negativity, is a great achievement.
Best of luck with your trading and betting today.
Katie Taylor - a great ambassador for the country:
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