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The most valuable sports team in the world went public on Friday on the NYSE. Manchester United is owned and operated by American Malcolm Glazer and his family. He loaded the team with debt in order to acquire high priced talent and in order to take over the team. Now he is selling half of his stake in the team to get his money back. ManU started the day on the NYSE around $14 per share which is lower then expected. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business’ Varney & Company to examine ManU going public and whether investors should buy.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: dow, england, financial advisor, ipo, malcolm glazer, manchester united, manu, money, nyse, public offering, soccer, sports, stock market, wealth manager