Shares of Manchester United surged almost 5% yesterday after the soccer team announced its new, $130 million a year kit deal with Adidas , which will begin during the 2015-16 season and see the German sportswear maker replace its U.S. rival, Nike.
Wall Street now affords United an enterprise value of $3.6 billion. Math: market value ($3.05 billion) + long term debt ($613 million) cash ($57 million). In April, we valued Real Madrid as the worlds most valuable team, worth $3.44 billion, with Barcelona second at $3.22 billion, and United third at $2.81 billion.