See which team has 1 billion IPO

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See which team has 1 billion IPO

From Comcast SportsNet Friday, September 16, 2011
SINGAPORE (AP) -- Manchester United's planned 1 billion public offering has been approved by Singapore's stock exchange, a person familiar with the deal told The Associated Press on Friday. The initial public offering likely will happen by the end of the year and involve ordinary and nonvoting preferred shares, according to the person, who spoke on condition of anonymity because the deal hasn't been officially announced. Manchester United is owned by the Glazer family of the United States. It has been valued at 1.9 billion by Forbes magazine, which has ranked it as soccer's most valuable team for the last seven years. However, the club has about 750 million of debt. The Glazers are expected to maintain control of the defending English Premier League champions but they could raise 1 billion by making between 25 percent and 30 percent of United available. By listing shares in Singapore, Manchester United is betting that Asians, who account for more than half of the club's estimated 333 million fans, could be willing to pay more for a piece of their favorite team. The club was bought by the Glazers for 1.4 billion in 2005 when they de-listed it from the London Stock Exchange. The Glazers also own the Tampa Bay Buccaneers.

Mayock: If I'm Cleveland, I'd be 'stoked' land Garoppolo for No. 12 pick

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Mayock: If I'm Cleveland, I'd be 'stoked' land Garoppolo for No. 12 pick

NFL Network draft expert Mike Mayock quarterbacked a marathon conference call with reporters from around the country on Monday, and his perspective on this year's crop of draftable signal-callers makes Patriots backup Jimmy Garoppolo seem like the top option for a quarterback-needy team.

Garoppolo might interest the Browns in particular, Mayock noted, because of the number of picks they have near the top of the draft.

"In my opinion," Mayock said, "if I'm the Cleveland Browns and I've got No. 1 and No. 12, if I came away with either [defensive end Myles] Garrett or [defensive tackle] Jonathan Allen at No. 1, and gave up the 12th pick in the draft to get Garoppolo? I would be stoked.

"I would feel like I had a difference-maker on defense and we had a quarterback on offense. Now let's get to work. We got five in the first 65 picks. Let's get to work. From my perspective, especially looking at the quarterbacks this year, if they gave up No. 12 and could get Garoppolo, I'd be all over that."

More to come . . .

Haggerty's Morning Skate: NHL teams aren't just making trades for themselves ahead of deadline

Haggerty's Morning Skate: NHL teams aren't just making trades for themselves ahead of deadline

Here are all the hockey links from around the world, and what I’m reading while feeling like Warren Beatty took the sneaky way out by handing that wrong Academy Award card to Faye Dunaway last night. Clearly he knew something was amiss and he let her step into it. Kind of a weasel move if you asked me.

-- An interesting letter from FOH (Friend of Haggs) James Mirtle about the pay wall involving The Athletic sports website in Toronto.

-- Dean Lombardi and the Los Angeles Kings dealing for Ben Bishop is about more than just an insurance policy for Jonathan Quick.

-- FOH Mike Halford has the Minnesota Wild going for it with their trade for Martin Hanzal, but also keeping him from the other teams in the West.

-- NHL commissioner Gary Bettman says the Penguins are in great shape after winning the Cup last spring, and it’s clear they’re in good hands after Mario Lemieux and Ron Burkle opted not to sell the franchise.

-- Kyle Quincey is being held out of the lineup in New Jersey because of pending trades, and the wonder is who else in New Jersey might be getting dealt.

-- Gabriel Landeskog and his Colorado Avalanche teammates know the trade deadline is coming. It would certainly be weird if they didn’t.

-- The San Jose Sharks feel fortunate for the timing of their bye week as it was clear that they needed a break.

-- For something completely different: Gronk was busy doing Gronk things at the Daytona 500 over the weekend.