Manchester United Reveal Share Price Details

Manchester United has released details of its plans to sell shares on the world's largest stock market – valuing the club at \$2.3bn (£1.5bn).

The \$14 price is significantly below expectations and will see it raising \$233.2m (£149.1m) from the sale of 16.7 million shares - about \$100m less than it had hoped - on the New York Stock Exchange.

It still makes it the largest sports team ever listed on a stock market, but means the club's value is much lower than the up to \$3.3bn its owners, the Glazer family, were expecting.

More follows later...