LONDON : Recent investment in soccer has set the bar for the value of elite clubs and led to the sport becoming"big, big business", finance expert Neil Joyce told Reuters on Friday, ahead of the expiration of a deadline for bids to buy into Manchester United.
U.S.-listed shares of United rose nearly 5 per cent premarket to $28.10 on Friday, a day after closing at a record high. "The bar's been set in terms of the value of sports teams and football teams in particular as brands."The Glazers bought United for 790 million pounds in 2005, and Joyce said there was plenty of financial incentive for them to sell the club.
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