An interesting line to come out of the prospectus for the share sale:
Dating back to our first league championship in 1908 through present day, where we have earned a record number of English League titles and FA Cups, we have enjoyed a rich tradition of football excellence. We believe our many years of on field success coupled with an iconic stadium and high level of fan engagement has driven our leading global brand. We are well positioned to continue reinvesting our free cash flow in brand enhancing initiatives. Our brand begins with strong on field performance, and we remain committed to attracting and retaining the highest quality players for our first team and coaching staff. To maintain our high standard of performance we anticipate a higher level of net player capital expenditures and player wages to retain talent and enhance the caliber of our team in the near term.
I bought it when it was first listed at around 12.00 per share, so I'm already in the black. The shares I sold yesterday were just a quick dump when I knew the share price was going to plummet. I re-invested yesterday at around 14.35 and today the price jumped to 15.20. It was a bit of both. I knew the IPO opened too low and was going to increase, and I also wanted the novelty of being able to say I own a piece of United. It's something not many people are able to do with the clubs they support- here in the States at least. (Unless you're a Packers fan)
Just invest a little at a time... I remember trying to find money to invest when I was in school for the first time. It's tough when you're in college I know. It's never too early to start dropping money in a mutual fund or nice safe S&P ETF fund.
Typical agenda-driven fan group nonsense. Question spending relative to turnover vs our rivals is pointless without considering the same scenario pre-Glazer. United's spending relative to turnover has been pretty much unchanged in the last 20 years.
£1bn taken out of the club is exaggerated to say the least, it's still a hell of a lot of money obviously and nobody wants to see that money gone but they don't even acknowledge the commercial growth that offsets a lot of it - United's commercial turnover in 1997 was £39.8, in 2003 it was £46.2m, pretty much stagnant when you consider the Nike deal kicked in in between and it still barely increased. 6 years into the Glazer ownership and commercial turnover broke the £100m barrier and is now pushing £200m. When you look at the growth pre-takeover it's safe to say we wouldn't have grown that drastically.