The club will be seeking to raise $100m in the IPO, Manchester United said in a filing with regulators on the eve of America's July 4 holiday. The figure in the initial IPO paperwork is typically a placeholder and there is speculation that the club will be seeking to raise up to $1bn.
The Glazer family, which acquired Manchester United in 2005 for £790m, scrapped earlier ambitions to float in Singapore because of the turmoil in global financial markets. Manchester United may seek to complete the IPO later this summer in New York, it was reported last night.
In its filing with regulators, the club told investors that it is "one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on earth."
The decision to opt for New York after Singapore is a blow to the City of London, which is reeling from the fall-out of the deepening libor scandal. US investment banks Jefferies and JPMorgan Chase are the club's chief advisers on the floatl, with Credit Suisse, Bank of America and Deutsche Bank also helping to underwrite it.