British Soccer Team Offered to Investors in US

 NEW YORK — Britain’s Manchester United soccer team is in deep financial trouble despite its winning tradition that dates to 1878. Its fans are known to resent the club’s American owners, the Florida-based Glazer¹ family, which wants to sell stock in the team to help manage its huge debt. 

Manchester United fans protested in 2005 against the sale of their team to American billionaire Malcom Glazer. Many considered him a financial predator² who would not invest in quality players to remain competitive. Today, the team may be looking to investors⁴ to raise capital to offset⁵ the team’s debt of more than half a billion dollars. Analysts⁶ say much of it stems from Glazer’s leveraged⁷ purchase of the club. 

Initial market reaction appears muted. Jeffrey Sica, president of Sica Wealth Management in Morristown, New Jersey⁸, advises caution for clients who invest in sports teams.

“You have to think like an investor³. An investor thinks about what is the profit going to be at the end of the road. The fan thinks about winning games. And if the two don’t correspond with each other, then it’s not worth investing in,” he said.

The Glazer family recently filed for an IPO, or Initial Public Offering, on the New York Stock Exchange. Sica says the New York Exchange represents a larger market than the Singapore or Hong Kong exchanges, which the family previously⁹ considered. But the timing¹⁰, price and number of shares remain unclear.

Glazer’s other sports franchise¹¹, the Tampa Bay Buccaneers American-style football team, is privately¹² owned.   

Fans reacted last year when word first spread of a Manchester United IPO.

"It's a good way of reducing the debt and providing funds for future players," said one man.

"If the Glazers just take the money, they will be vilified¹³ even more by United fans, but if they wipe out the debt, I don't see a problem," said another fan.

Sica says Manchester United could continue its winning tradition, but that does not mean investors will profit from it. He notes that the IPO is meant to address the team’s debt, not necessarily its performance on the field.

1 glazer   

n.上釉工人，加光工人

参考例句：

• There's no set figure from the Glazer family [for transfers]. 格拉泽家族没有设置限制。 来自互联网
• The Glazer family have insisted that Manchester United are not for sale. 格雷泽家族已经强调曼彻斯特联是非卖品。 来自互联网

2 predator   

n.捕食其它动物的动物；捕食者

参考例句：

• The final part of this chapter was devoted to a brief summary of predator species.本章最后部分简要总结了食肉动物。
• Komodo dragon is the largest living lizard and a fearsome predator.科摩多龙是目前存在的最大蜥蜴，它是一种令人恐惧的捕食性动物。

3 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 offset   

n.分支，补偿；v.抵消，补偿

参考例句：

• Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
• He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

7 leveraged   

促使…改变( leverage的过去式和过去分词 )； [美国英语]杠杆式投机，（使）举债经营，（使）利用贷款进行投机

参考例句：

• Chrysler has traditionally been a highly leveraged company. 克莱斯勒一向是一家周转十分灵活的公司。
• Leveraged recaps have become popular for a number of reasons. 杠杆资本重组的大行其道有好几个原因。

8 jersey   

n.运动衫

参考例句：

• He wears a cotton jersey when he plays football.他穿运动衫踢足球。
• They were dressed alike in blue jersey and knickers.他们穿着一致，都是蓝色的运动衫和灯笼短裤。

9 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

10 timing   

n.时间安排，时间选择

参考例句：

• The timing of the meeting is not convenient.会议的时间安排不合适。
• The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

11 franchise   

n.特许，特权，专营权，特许权

参考例句：

• Catering in the schools is run on a franchise basis.学校餐饮服务以特许权经营。
• The United States granted the franchise to women in 1920.美国于1920年给妇女以参政权。

12 privately   

adv.以私人的身份，悄悄地，私下地

参考例句：

• Some ministers admit privately that unemployment could continue to rise.一些部长私下承认失业率可能继续升高。
• The man privately admits that his motive is profits.那人私下承认他的动机是为了牟利。

13 vilified   

v.中伤，诽谤( vilify的过去式和过去分词 )

参考例句：

• He was vilified in newspapers. 他在报纸上受到了诽谤。 来自《简明英汉词典》
• She was vilified by the press for her controversial views. 因她持有异议，新闻界对她横加挞伐。 来自互联网