Manchester United’s share price has dropped to $12 – its lowest price yet and giving the club a valuation 40% less than the Glazers had hoped.

Ten per cent of United’s shares were put up for sale on the New York Stock Exchange last month with their American owners hoping to achieve a price of $20 each, which would have valued the club at $3.3 billion.

But they only received $14 a share at first, and even that was down to the financial institutions who had underwritten the Initial Public Offering (IPO).

Since then, prices have slipped further and reached the $12 barrier at midday on Thursday in New York – giving United a value of $2 billion (just over £1.2 billion).

The Glazers paid around £800 million to complete their takeover in 2005 and, had shares sold at $20 apiece, stood to make a huge profit if the remaining 90% of shares were made available to investors.

However, financial analysts have long warned that United’s shares were overpriced and in August, PrivCo, the Private Financial Company Data Authority, said the right value for them was just $4.97 each.

Newly-relegated English team Rochdale AFC have announced directors Brian Kilpatrick and Martyn MacLeod have stepped down from the club’s board.

The news was announced in a statement on Dale’s official website, with chairman Chris Dunphy suggesting a summer of change is in the offing at Spotland following relegation from npower League One.

Dunphy said: “On behalf of Rochdale Football Club, I would like to thank Brian and Martyn for their hard work and endeavour over the years.

“It has been a pleasure working with them and I wish them all the very best for the future.

“As previously mentioned, there will be a number of changes in the boardroom to help us face the challenges of running a professional football team through the teeth of a recession.

“This remains work in progress for me during the summer months.”

BT Sport have agreed to broadcast the testimonial game for England and Liverpool captain Steven Gerrard.

The Liverpool footballer will be honoured at Anfield on Saturday, price August 3, ampoule kick off 12.45pm, when the Reds take on Greek champions Olympiacos to mark Stevie G’s one-club career of 630 appearances and 159 goals.

BT Sport will have exclusively live coverage of the match in the UK and Ireland, as well as pre and post-match interviews with Steven.

All money raised from the inspirational leader’s testimonial year events, including the testimonial match, will be donated to the Steven Gerrard Foundation, which supports children’s charities in Merseyside and beyond. BT Sport’s payment for exclusive live rights to the match will also be paid directly to the foundation.

Steven Gerrard said: “I am delighted that BT Sport will be showing my testimonial live and that this will help to raise more money for the important work of my foundation.

“It should be a great match and will be a competitive one in preparation for the coming season. I have great memories of the last time we played Olympiacos, when I was fortunate enough to score against them to go through to the knockout stage, on our way to winning the UEFA Champions League in 2004/5.”

Simon Green, head of BT Sport, said: “We are thrilled to be kicking off our live football coverage on BT Sport with this testimonial for the England captain, who is one of the greatest current players in the game. BT Sport is also delighted that we are able to support Steven in his charitable aims and make a contribution to his foundation, which does valuable work in the community.

“This testimonial should act as a perfect curtain raiser for the coming season and a first opportunity for football fans to experience what BT Sport will have to offer over the coming years.”

BT Sport will show 38 exclusively live football matches from the Barclays Premier League, including 18 of the ‘top picks’ from August 2013 for three seasons. The channels will also show live FA Cup, Europa League and Scottish Premier League matches, as well as top tier live football from Germany, Italy, France, Brazil, Australia and the USA, plus action from the FA Women’s Super League.

The Football Association have announced that Barnet FC stadium Underhill will be the venue for the 2012 FA WSL Continental Cup Final.

The Final takes place on Wednesday 10 October and will be shown on ESPN.

The 2012 Final is a re-run of last year’s inaugural Final between Arsenal Ladies and Birmingham City Ladies.

The Continental Cup Final will mark a fitting end to what has been a massive year for women’s football in this country. Team GB Women’s performances at the 2012 Olympics, herbal alongside record breaking crowds, buy huge TV audiences and positive media coverage, has helped raise the profile of the game in England and gain new audiences in the process.

Women’s football is now the third largest team sport in the country behind men’s football and men’s cricket and with England Women’s qualification to the 2013 European Championship Finals in Sweden almost secure, next year promises to be another great year to help build momentum and interest for the game.

The Chairman of Barnet FC, Tony Kleanthous, said of the announcement: “We have a very proud history of women’s football here at Barnet FC and we are delighted to be hosting The FA WSL Continental Cup Final at Underhill next month.

“The Final is the show-piece event in the WSL calendar and we are all looking forward to a competitive match between two of the best teams in the country.

“The encounter should be a great advert for the sport in what has truly been a memorable year for women’s football after Team GB’s exploits. We hope fans and families come out in force in and show their support at Barnet.”

Guy Frobisher, Marketing Director at Continental Tyres, added: “This is the second of a two year agreement for Continental to title sponsor the WSL League Cup.

“We have been so pleased with our involvement with the women’s game in general and the Continental Cup in particular that we have just extended our support for a further four years.

“In addition to the match itself we will also be bringing The FA WSL Girls Football Roadshow to Barnet which will provide girls of all ages and ability the opportunity to experience football through interactive games, coaching, skills and drills, including the Conti warm up programme, and, of course, the chance to meet some of their heroes in person.

“If last year is anything to go by the Continental Cup Final will again be a wonderful sporting occasion and a fantastic family day.”

Glasgow 2014 commercial director, John Donnelly, is set to leave the Organising Committee by mutual agreement at the end of next month.

Donnely endured a successful three-and-a-half years in the role where he was in charge to develop the brand, sponsorship, licensing, merchandising and ticketing strategies for the Commonwealth Games and also sell the international broadcasting rights for the event.

Glasgow 2014 claim that both parties agree a different approach is required for the next stage in the Games cycle; with a recruitment process now underway to appoint his successor.

Glasgow 2014 chief executive David Grevemberg, said: “John has made a significant contribution to ensuring Glasgow 2014’s commercial programme is further ahead than any previous Commonwealth Games in terms of commercial revenues secured at this stage of our preparations.”

“All the team at Glasgow 2014 wishes John well for the future.

“We have a strong commercial team in place, transitional arrangements are agreed and we have commenced our search for a new commercial director as we progress confidently to the next stage of delivering an outstanding and successful Commonwealth Games.

“We look forward over the coming weeks and months to unveiling many more of the world-class commercial partners who will share this history-making journey with us.”

Donnelly served as director of iris – a 350 strong integrated marketing agency based in London and Manchester where his clients included Sony, Scottish Courage and Sure, before joining Glasgow 2014.

He has also previously worked as interim head of commercial and marketing at the Scottish Rugby Union (SRU) where he set and delivered a new ticketing strategy, recruited new corporate sponsorship partners and devised and implemented successful marketing campaigns.

Prior to his time at the SRU, he was a Group Board director and managing director for bd ntwk in London where he worked on accounts such as Coca Cola, Orange, Peugeot, Inbev and Wanadoo.

 

“The Glasgow 2014 Commonwealth Games will be the largest and most exciting multi-sports event ever to take place in Scotland and I have been proud to have played a part in bringing it to life,” said Donnelly.

“I wish David and the Glasgow 2014 team every success as they move on the next stage of the journey towards delivering an athlete centred and sports focused Games of which Glasgow and Scotland can be proud.”

The International Olympic Committee (IOC) has launched the process for the sale of the broadcast and exhibition rights for territories within Asia for the XXII Olympic Winter Games (2014) in Sochi, adiposity Russia, asthma and the Games of the XXXI Olympiad in Rio (2016), try as well as the second Summer Youth Olympic Games in 2014 in Nanjing, China.

Supplemental bids will also be considered for the XXIII Olympic Winter Games in 2018 in PyeongChang, Republic of Korea and the Games of the XXXII Olympiad in 2020.

The IOC is considering bids for broadcast rights in 24 countries including India, Indonesia, Iran, Nepal, Pakistan, Thailand and Vietnam. The IOC has asked for bids to be submitted by 5 July 2013. Last year the Olympics had aired on ESPN Star Sports in addition to DD.

The IOC will assess bids on their ability to meet the highest standards in broadcast quality, their capacity to reach the broadest possible audience across different media platforms, their commitment to promoting the Olympic Games and the values of the Olympic movement, as well as on the financial offer.

The IOC will consider bids from organisations who can guarantee full exploitation of the rights either on a multi-territory or country-by-country basis.

Korea’s professional football league, the K-League, has relegated the military-affiliated Sangju Sangmu Pheonix to the second division for next season for failing to meet international club standards

With Sangju’s demotion, only one of the eight teams in the bottom half of the league’s split system will be relegated to the second-tier National League at the end of the season.

The qualifications the league referred to in its rulings is the Asian Football Confederation (AFC) regulation on club licensing that requires a club to be a “legal entity” ensuring “financial and sporting success in the league.”

There are also issues over contracts, as players do not sign with Sangmu, but play on the team while fulfilling mandatory military service.

A K-League official said: “We can’t leave a team unable to meet the qualifications for a professional club in the league”

Sangju Sangmu Pheonix may boycott its remaining matches this season. The club’s General Manager, Lee Jae-cheol, said: “The Armed Forces Athletic Corps and the Defense Ministry held talks today, and we’ve decided not to play the rest of the season. We just don‘t have the motivation to play out the season. The ministry is adamant about this.”

The AFC stipulates that all professional players must have a written contract with their clubs. Sangmu players are technically under contracts with their original K-League teams because they are only playing for Sangmu to fulfill their mandatory military service requirement.

Sangmu players receive the same monthly wages as other conscripted soldiers, about US$73 for privates and US$96 for sergeants. The players also receive bonus payments for each victory, goal, assist and hat-trick.{jcomments on}