Manchester United F.C. billion. After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost £800 million, after which the company was taken private again, before going public once more in August 2012, when they made an initial public offering on the New York Stock Exchange. Manchester United is one of the most widely supported football clubs in the world, and has rivalries with Liverpool, Manchester City, Arsenal, and Leeds United. Manchester United was formed in 1878 as Newton Heath LYR Football Club by the Carriage
Glazer ownership of Manchester United 98% ownership of the club via their Red Football parent company, forcing a squeeze out of the remaining 2%. The final purchase price of the club totalled almost £800 million. Most of the capital used by Glazer to purchase Manchester United came in the form of loans, the majority of which were secured against the club's assets, incurring interest payments of over £60 million per annum. The remainder came in the form of PIK loans (payment in kind loans), which were later sold to hedge funds. Manchester United was not liable for the PIKs, which were held by Red Football