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The Premiership


United hit by Champions League exit

Manchester United's full accounts are not expected to be available until later this month but the extent of the hit the club took as a result of its early exit from the Champions League is apparent in the documentation it filed in New York earlier this month in connection with its share issue.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (known as Ebitda) is estimated to have fallen by between 16 and 18 per cent to £90 to £92 million.   Turnover is expected to drop by 3 to 5 per cent from £331m to between £315m and £320m.

Share deal will benefit Glazers

Manchester United fans are once again angry with the Glazers who own the club.  After some delays they have now filed their initial public offering on the New York stock exchange and are hoping to sell 19.1m shares.

However, originally the offering was supposed to be used entirely to reduce the club's debt burden.   The latest plan sees half the money raised going to the Glazer family, estimated at £150m.

New shirt deal for United

The ability of Manchester United to attract increasingly lucrative sponsorship deals is demonstrated by their new shirt sponsorship deal with Chevrolet.    Their current deal with US insurer Aon, admittedly over a four year period, is worth £80m.   The new deal which will start from the 2014-15 season is reported to be worth $600m over seven years.   They are the club's fifth shirt sponsor.

Premier League funds prosecution

The Premier League's determination to protect its intellectual property rights and those of its broadcasters is demonstrated by its involvement in the public prosecution of a man accused of importing cut-price satellite decoder cards.

United delay listing plans

Manchester United has temporarily paused plans to launch its $300 initial public offering in the US where market volatility has soared in recent days as macroeconomic fears hit share prices.   The S&P 500 index has fallen 2 per cent since the start of the week.

United top Forbes sports rich list

Manchester United have retained their title as the world's most valuable team according to the latest Forbes sports rich list.   The club were valued at £1.43bn, up from £1.2bn.   That put them 19 per cent ahead of the number two club on the list, Real Madrid, valued at £1.20bn.

The only other two football clubs on the list were Barcelona in 8th place, valued at £838m, and Arsenal  in 10th place valued at £825m.

Premiership bonanza continues

The Premier League's cash bonanza continues with the conclusion of a new three year sponsorship deal with Barclays Bank.   It will be worth £120m over the three years, £40m a year compared with the current £27.5m.

Usmanov criticises Arsenal board

The second largest shareholder in Arsenal, Alisher Usmanov, has set out a wide-ranging critique of the strategy of the club's board after the news that Robin van Persie will not be negotiating an extension of his contract.

Risk factors abound at United

Despite some bullish statements, there is a rather downbeat tone to the prospectus issued by Manchester United for its New York listing.   Of the 143-page document, 21 pages is given over to risk factors.   These cover everything from natural disasters to the idea that the club's popularity and, indeed, the popularity of football may decline.

United to float in New York

Manchester United is planning to sell $100m (£64m) of shares in the United States.  This is much less than the $1bn it originally hoped to raise through a flotation in Singapore.   However, the $100m which is a so-called 'place holder value' could yet be revised upwards.