LONDON — Manchester United launched its New York Stock Exchange listing on Monday, hoping to raise around $330 million by selling 10 percent of the Premier League club.
The record 19-time English champions said in a filing to the Securities and Exchange Commission about 16.7 million shares will be offered at a cost of between $16 and $20.
United is looking to raise funds to help reduce debt from the Glazer family’s 2005 takeover, rated at $663 million as of March 31.
The Glazers will retain control of the club through its ownership of Class B shares, which will have 10 times the voting power of the stock sold to the public.
The Glazers, who also own the NFL’s Tampa Bay Buccaneers, also announced on Monday a seven-year shirt sponsorship deal with American car company Chevrolet, which will begin at the start of the 2014-15 season.