Manchester United has applied to become a listed company on the New York Stock Exchange.
The English Premier League club hopes to raise $100m (€79.4m) from a share offer.
The club has been looking to secure funds to help reduce debts of $663m (€526m).
The flotation would leave control over the club in the hands of the Glazer family, the billionaire US sports investors who bought the club in 2005.
The club pursued a $1bn (€794.5m) flotation on the Singapore stock market last year but the move was halted because of the volatile global economy.
Under the reorganisation, the team would become a wholly-owned subsidiary of Manchester United Ltd, a newly-formed holding company based in the Cayman Islands.
In April Manchester United was valued by Forbes magazine at $2.24bn (€1.77bn) making it the most valuable club in world football for the eighth year in a row.