|Bid||0.00 x 1100|
|Ask||18.72 x 800|
|Day's range||18.21 - 18.53|
|52-week range||15.30 - 21.92|
|Beta (5Y Monthly)||0.70|
|PE ratio (TTM)||N/A|
|Earnings date||12 Feb 2020 - 17 Feb 2020|
|Forward dividend & yield||0.18 (0.98%)|
|1y target est||1,628.12|
Alibaba Group Holding (BABA) is leaving no stone unturned to fortify presence in the digital media industry and expand content offerings on Youku.
(Bloomberg Opinion) -- Soccer’s global body FIFA is looking for money and commercial acumen. The private equity industry thinks it might be a solution. Like Chelsea’s Frank Lampard and Liverpool’s Steven Gerrard when they used to play together for England, it’s not obvious the pair are made for each other.FIFA’s strategic goal is to take the beautiful game to new audiences in new regions. That process is already well underway without the organization’s help. Chinese clubs are bidding absurd prices for Western stars, and soccer has an established foothold in the U.S. Meanwhile, India is emerging as the hot new target market; witness City Football Group, owner of Manchester City, buying a majority stake in Mumbai City FC last month.But FIFA sees a role for itself in getting the top clubs to expand their global horizons. It wants to expand its Club World Cup. This is currently made up of six regional champions from around the world plus the top club in the host nation, which this year is Qatar. As things stand, the event risks being a poor substitute for Europe’s Champions League, which is home to most of the game’s stars and some genuine club rivalry.The Club World Cup participants may be leaders in their individual federations, but it’s hard to see how the matches can generate the same atmosphere and tension as a game between teams like Barcelona and Real Madrid or Liverpool and Manchester United.Hence FIFA is expanding the contest to 24 clubs from the 2021 event in China. The body also seems keen to milk it for maximum commercial potential: It is talking to CVC Capital Partners about a partnership, the Financial Times reported last week. CVC has invested in sports before, having owned Formula One motor racing, and more recently taking a stake in the U.K.’s Premiership Rugby. The firm has also been approached for support on a parallel international club competition spearheaded by Real Madrid president Florentino Perez, the FT said.What would private equity bring? An expanded tournament should surely be self-funding through the broadcasting rights and sponsorship deals. The need for additional capital isn’t obvious. The real benefit would be the ability to hand over the management of the competition to a well-organized partner with proven expertise that goes beyond selling airtime to the highest bidder. A buyout firm would almost certainly be more skillful than FIFA in making the most of merchandising and hospitality opportunities, and maximizing revenue from video content and data.The question is what’s in it for private equity. The investment committee of any interested buyout firm should weigh the opportunity with caution. FIFA’s past corruption scandals mean that any check should be written only after a tough due-diligence exercise given the reputation risk.Then there’s the question of whether an expanded Club World Cup would make more enemies than friends. A global club tournament gets in the way of national leagues — and there is already the lucrative Champions League and Europa League for Europe’s elite teams. Even the current small-scale Club World Cup competition generates scheduling conflicts.Such confections also risk perpetuating the divide between the teams that qualify (and thereby make more money, enabling them to snap up the best talent) and those that don’t. The bottom line is that outside investors need to be 100% sure they can improve the game for all fans before they get involved.Private equity has more money than investment opportunities right now so that’s why it’s fishing in new waters. But this has the potential to be much more controversial than its past sporting ventures. The introduction of video-assisted refereeing has probably been the most unpopular development in soccer recently. Small wonder this latest big idea is getting a similar welcome.To contact the author of this story: Chris Hughes at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Manchester United have signed a partnership deal with Alibaba - the Chinese e-commerce company. Under the arrangement, aimed at raising the Premier League side's profile in the world's second-largest economy, Alibaba will provide club content on its online video platform Youku.com. The deal will also lead to the creation of a Manchester United store on Alibaba's business-to-consumer platform Tmall.com, the club said.
Premier League soccer club Manchester United have agreed a partnership with e-commerce giant Alibaba in an effort to extend the club's engagement with fans in China. The deal will see Alibaba provide club content on its online video platform Youku and develop a future club store on the company's business-to-consumer platform Tmall.com. The deal is the latest move by United to engage with the Chinese market following the launch of a Chinese language app and plans for "experience centres" across the country.
Manchester United (NYSE: MANU) – one of the most popular and successful sports teams in the world - today announced a new partnership with Alibaba Group (NYSE: BABA and HKEX: 9988) that will bring exclusive rights to club content in China to Alibaba’s ecosystem for the first time, further extending the club’s engagement with its massive Chinese fanbase.
(Bloomberg Opinion) -- The ability of the world’s biggest sports competitions to keep making more money could depend on one relatively mundane factor: broadband networks’ capacity to live-stream games to millions of households.The biggest test so far will come this week with Amazon.com Inc.’s broadcast of 10 Premier League matches. The broadcast revenues from England’s flagship soccer competition have started to plateau as television stations grow wary about writing outsize checks to obtain the rights. In response, the league has solicited U.S. tech giants in an effort to reinvigorate the bidding war for rights.Their entreaties have so far largely fallen on deaf ears. That is, until Amazon agreed to buy a relatively small package of Premier League games in June 2018. But Amazon’s interest fell short of creating a bidding war. The e-commerce giant is understood to have paid very little for the privilege of streaming 10 games this week and another 10 after Christmas. The intention was instead to whet Amazon’s appetite. If the broadcasts prove successful — which in Amazon’s case means signing up a host of new subscribers for its Prime service — then it might encourage the Seattle-based firm to bid for the bigger packages of games currently held by Comcast Corp.’s Sky division and BT Group Plc.The timing of the games is of course opportune for Amazon, coming shortly before Christmas. When users sign up for Prime Video, the service that will broadcast the games, they will also get access to the broader suite of Prime offerings, including Prime Delivery, which promises faster and free deliveries of products bought via Amazon.com. Prime subscribers spend an average of $1,400 a year on the website, compared to the $600 of other customers, the research firm Consumer Intelligence Research Partners estimated last year.The challenge for Amazon is that it will be largely dependent on the U.K.’s broadband infrastructure to distribute the games, and that network is not fundamentally designed to support video live-streaming. While it has subcontracted BT to supply the feed to pubs and bars, ordinary households will use their existing internet connections. That may not make for pretty viewing as the U.K. has the fourth-lowest penetration of fiber-optic broadband in the European Union.Prior experiences have surfaced a welter of problems. Amazon’s first foray into sports broadcasting in the U.K. prompted a slew of complaints, partly to do with the editorial standards, but also to do with picture quality, a far more significant concern given the scale of the Premier League soccer challenge. YouTube TV’s live-stream of last year’s World Cup semi-final between England and Croatia crashed in the U.S., and AT&T Inc. ended up providing a pay-per-view golf match between Tiger Woods and Phil Mickelson free after experiencing glitches. And while Amazon has shown National Football League games, the rights were shared with other classic broadcasters, reducing the network demand.An examination of the Premier League’s viewership highlights the extent of the risks. A match in August 2018 between Manchester United and Leicester City attracted some 1.1 million viewers on Sky, according to the Broadcasters’ Audience Research Board. Just 72,000 of those watched the game via a mobile device — the most readily available proxy for live-streaming. Even the England-Croatia game drew in just 337,000 viewers using mobile devices. On Dec. 4, Amazon will concurrently broadcast six games, each of which could have several hundred thousand viewers.Top of the list will be Liverpool versus Everton — a derby game of two sides from the same city, and therefore likely to create a demand peak in a relatively concentrated area. The match kicks off 45 minutes after the others, which could be construed as a move to try to spread the demand on the network.There are ways Amazon, with its deep cloud-computing expertise, can alleviate potential problems, not least by leaning on other content delivery network specialists such as Akamai Technologies Inc., whose additional servers can make it easier to handle peaks of demand. But even if the picture quality is up-to-scratch, there is always likely to be a lag which could prompt complaints. When Twitter Inc. broadcast NFL games in 2016, a 30- to 90-second lag meant that viewers often saw the score in a tweet before watching the play itself.It is easier for Amazon to justify spending more to deliver the content than it will generate from the subscriptions themselves, because it will make more money in the long-term from customers buying more products from Amazon.com. But if things go badly wrong, then it will play into the hands of Sky and BT, who have years of experience with live sports broadcasting, and control much of the underlying network.If there’s no big uptick in subscribers for Amazon this time around, and the games are beset by technical snafus, that’ll make it harder to attract more viewers — and thus more subscribers to Prime Video — over the next two years for which it has the rights. That could end hopes that Amazon or any other tech giant will be willing to bid serious money for the games anytime soon.To contact the author of this story: Alex Webb at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- City Football Group, the owner of Manchester City soccer club, agreed to buy a 65% stake in Indian Super League team Mumbai City FC, according to statement Thursday.Existing shareholders, the actor and film producer Ranbir Kapoor and Bimal Parekh, will hold the remaining 35% of shares. Terms of the transaction weren’t revealed.On November 27, Silver Lake announced the acquisition of a 10% holding in Manchester City at an implied valuation of about $4.8 billion. Shares in local rival Manchester United Plc had their biggest intraday jump ever, rising as much as 14% in New York, after the purchase turned a spotlight on valuations. To contact the reporter on this story: Katerina Petroff in Frankfurt at firstname.lastname@example.orgTo contact the editor responsible for this story: Christopher Kingdon at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Silver Lake Management’s expensive foray into British soccer reflects the soaring value of live matches in the streaming era and the potential for new apps to cash in on the global following of teams like Manchester City.The U.S. private equity firm is buying just over 10% of City owner City Football Group Ltd. for around $500 million, the companies said Wednesday. At that price, City Football would be valued at $4.8 billion, based on simple math. But Silver Lake acquired preferred shares in the transaction, which would normally demand a premium, so the real valuation may be lower, according to people familiar with the matter.In any case, the deal puts City Football, controlled by Abu Dhabi’s royal family, among the highest-priced professional sports organizations. It lit a spark under shares of City’s crosstown rival, Manchester United Plc, which jumped as much as 14% in New York trading Wednesday. That’s the biggest intraday gain since the team’s 2012 listing, and gives the company a market capitalization of about $3 billion.Silver Lake is best known for tech investments such as Dell Technologies Inc. and China’s Alibaba Group Holding Ltd., and could bring that expertise to the English Premier League club. The firm is also well versed in sports through its stake in Madison Square Garden Co., the owner of New York’s Knicks and Rangers.While the big clubs still make most of their money from broadcast rights and merchandising, they’re looking for ways to use technology to sell privileged access to fans.Some have developed apps showing exclusive content such as player interviews, short documentaries, press conferences and even match highlights. A platform developed recently by London’s Chelsea Football Club found an enthusiastic audience.Manchester City demonstrated the potential value of behind-the-scenes content last year when it partnered with Amazon.com Inc.’s Prime Video streaming service for an eight-part documentary charting the path to its 2018 title win.“There are large international audiences and fan bases for Premier League clubs, particularly in Asia,” said Richard Broughton of Ampere Analysis. “There is potentially a large and arguably under-served opportunity outside the U.K. -- albeit at a lower price point.”The bigger teams will have to tread a careful path, offering enough to entice fans without upsetting the leagues that bring them TV revenue.Prized ContentIncome from sports broadcasts has been surging since media companies latched onto the live events as one of the remaining ways to bring in advertisers, which are increasingly moving online. The emergence of the big U.S. streaming platforms in rights contests has helped to buoy valuations for the most sought-after content.The Silver Lake deal values the business among some of the world’s top sports names including the New York Yankees baseball team, worth $4.6 billion, and basketball giants the New York Knicks, at $4 billion, according to Forbes estimates.While Manchester United’s market capitalization might be lower than the new Man City valuation, “any bid by a company wanting immediate exposure in Asia would generate a significant premium if the controlling Glazer family ever decided to sell,” said John Tinker, a media analyst at Gabelli & Co., referring to United’s owner.KPMG valued Manchester City at $2.8 billion in May, though that estimate didn’t include City Football’s other teams, such as New York City FC and Melbourne City FC.“Then you have to take into account any synergies the buyer might have with the asset,” said Andrea Sartori, global head of sports at KPMG. “And then there’s a strong branding factor, given the exposure associated with a football club.”Few TV shows can match the audience pulling power of a big live sporting clash. Manchester City was the world’s fifth-highest revenue-generating soccer club in the 2017-18 season, according to a study by Deloitte, following a strong run of success in domestic and European competitions.Comcast Corp.’s European pay-TV unit Sky has said recent Premier League audiences were 23% higher than last season.“We remain very optimistic for continued increases in global football broadcast rights,” said Manchester United Vice Chairman Ed Woodward in an earnings call with analysts last week.Private-equity investors have long been drawn to sports clubs and agencies. Last year, Apax Partners agreed to acquire data and technology company Genius Sports, fresh on the heels of a purchase by Canada Pension Plan Investment Board and private equity firm TCV of a minority stake in Sportradar AG, another sports data analysis firm. Providence Equity Partners sold its interest in Major League Soccer’s media and marketing arm back to the league in 2017, tripling its initial investment in Soccer United Marketing.Silver Lake is plowing more money into sports and entertainment, including an investment in Endeavor Group Holdings Inc., which runs sports leagues, hosts fashion events and represents top athletes and entertainers.City Football Group plans to use the deal funds to expand its business overseas and develop technology and infrastructure assets, according to a statement. No existing shareholders sold their stake, and Abu Dhabi United Group remains the majority shareholder.\--With assistance from Joe Easton.To contact the reporters on this story: David Hellier in London at firstname.lastname@example.org;Scott Soshnick in New York at email@example.comTo contact the editors responsible for this story: Rebecca Penty at firstname.lastname@example.org, ;Nick Turner at email@example.com, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Today we'll look at Manchester United plc (NYSE:MANU) and reflect on its potential as an investment. Specifically...
Investing.com - Shares of Manchester United soared in midday trading Wednesday after its crosstown rival sold a stake to a private equity firm, a move that could boost the valuation of all major soccer teams.
(Bloomberg Opinion) -- Silver Lake’s hunt for a European sports investment has taken the U.S. West Coast buyout firm to the north of England, with a deal for a stake in the owner of Manchester City soccer club.There’s no science in negotiating the price for such trophy assets: Two sides get together and hammer out a number. But Silver Lake has investment clients to answer to and they’ll still expect reasoned justification for agreeing to pay $500 million for 10% in City Football Group. The $4.8 billion valuation is a record for a soccer business.It appears the buyer was the driving force behind the deal. Silver Lake specializes in technology and has been held back from putting money to work in recent years by sky-high valuations in its native sector. That creates the risk of overpaying in frustration when an attractive asset turns up.Sport has some obvious selling points: Live content is valuable, technology allows clubs to connect directly with the fan-base, and those supporters tend to stay loyal. Soccer is becoming more global too, and Manchester City’s international recognition lags that of its local rivals Manchester United and Liverpool despite the appeal of its coach Pep Guardiola.Silver Lake doubtless has some skills to offer but CFG probably held the balance of power in negotiations. For starters, the group already has deep-pocketed backers in Sheikh Mansour bin Zayed Al Nahyan’s Abu Dhabi United Group, the controlling shareholder, and minority holder China Media Capital. It scarcely needs more outside cash. What’s more, its immediate spending requirements may be more analogue than digital. The company is in advanced talks to build a stadium for its New York team and its global ambitions suggest a desire to add another club to its portfolio.So why take a fresh outside investor? Expertise can be bought by hiring good people, without diluting the existing owners.One answer is that Silver Lake provides an eye-catching external validation of Manchester City’s value. The price equates to 6.4 times sales for CFG’s 2018 financial year, when the group made a 45 million-pound ($58 million) loss. That revenue multiple compares with 4.3 times for Manchester United Plc and 4.9 times for Italy’s Juventus. Manchester City itself (rather than CFG as a whole) recently posted 2019 results showing revenue growth of 7% and it claims to have been profitable for five years.The high valuation is an obstacle to achieving the kind of mid-teens percentage returns that private equity normally seeks. A non-controlling minority stake and a probable holding period exceeding the buyout industry’s usual five-to-seven years make this an unusual deal. Another big hurdle is a potential ban for Manchester City from the lucrative European Champions League because of alleged breaches of “financial fair play” rules. Depending on the debt it can apply to its stake, Silver Lake could have to exit its holding at a valuation three times higher for this to stack up over a decade.The potential to expand City’s international fanbase is one source of optimism. Technology may help monetize that. The distribution of sports content is evolving fast — witness Amazon.com Inc.’s imminent streaming of English Premier League games. Silver Lake is in the dugout to influence how this plays out. But it’s a big gamble for a mid-sized and otherwise U.S.-focused firm.To contact the author of this story: Chris Hughes at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
LONDON/PARIS, Nov 27 (Reuters) - Manchester City's Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world's most valuable soccer group with a $4.8 billion price tag. Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG), which owns reigning English Premier League champions Manchester City and teams in the United States, Australia and China, the companies said on Wednesday.
LONDON/PARIS (Reuters) - Manchester City's Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world's most valuable soccer group with a $4.8 billion price tag. Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG), which owns reigning English Premier League champions Manchester City and teams in the United States, Australia and China, the companies said on Wednesday. The investment crowns a rags to riches story for Manchester City, which spent much of the 1990s in the doldrums but broke into the big league of world soccer with the help of Middle Eastern cash.
Manchester United (MANU) delivered earnings and revenue surprises of 137.50% and 5.96%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
The 20-time English champions, who failed to qualify for this season's Champions League, Europe's premier club competition, saw their revenue flat line in the quarter but stood by their annual revenue and core profit targets. Financial performance was driven by an 8% jump in sponsorship revenue largely due to new deals with well-known brands, highlighting the club's commercial appeal even as they misfire on the pitch. Executive Vice Chairman Ed Woodward promised significant investment over the coming transfer windows to add "world-class acquisitions" to a relatively young squad made up of several academy graduates.
Playing attacking football and winning trophies still remains the ultimate goal for Manchester United , the Premier League club said after sponsorship deals helped them post a jump in first-quarter core earnings. The 20-time English champions, who failed to qualify for this season's Champions League, Europe's premier club competition, saw their revenue flat line in the quarter but stood by their annual revenue and core profit targets. Executive Vice Chairman Ed Woodward promised significant investment over the coming transfer windows to add "world-class acquisitions" to a relatively young squad made up of several academy graduates.
Manchester United on Monday posted a jump in first-quarter core earnings, boosted by increased revenue from sponsorship deals and as player wages fell after the English soccer club failed to qualify for the UEFA Champions League. United's core profit rose 18.4% to 34.8 million pounds ($45.05 million) for the three months to Sept. 30 and it reiterated its annual revenue and core earnings targets. The 20-time English champions had warned in September that annual revenue would fall for the first time in five years as the club will not be able to capitalise on UEFA's broadcasting revenue distribution system.
MANCHESTER, England-- -- 1Q Fiscal 2020 Revenues of £135.4 million 1Q Fiscal 2020 Adjusted EBITDA of £34.8 million 1Q Fiscal 2020 Operating Profit of £11.0 million Highlights Announced new long-term contracts with recent Academy graduates, Mason Greenwood and Brandon Williams FIFA Club World Cup expands to 24 teams from 7 beginning in 2021, with the first tournament to be played in China Commercial ...
Manchester United (MANU) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Manchester United plc (MANU), one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth, today announced that it will report results for the 2020 fiscal first quarter period ended 30 September 2019 on Monday, 18 November 2019, at approximately 7:00 a.m. ET followed by a conference call at 8:00 a.m. ET to discuss the results. A live, listen-only webcast of the conference call will be available on Manchester United’s investor relations website at http://ir.manutd.com. Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth.
All of the allies — who must be senior executives who are not LGBT+ but support LGBT+ inclusion — were nominated by peers and colleagues, or put themselves forward.
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
Manchester United has reported record revenues of £627m for the fiscal year, as the football club's performance on the pitch comes under increasing scrutiny. An uptick in broadcasting revenues contributed the most heavily to the club's bumper year - money from television rights grew by 18.1% to £240m in 2019, compared with £204m in 2018. This was primarily due to the new UEFA Champions League broadcasting rights agreement.