Manchester United plans to cut its debt with a New York flotation that should free up cash for top players after a trophyless season.
The American Glazer family, owner of the NFL team Tampa Bay Buccaneers, will retain ownership after the planned US float by using a dual share structure.
The club wants to raise up to $100 million to reduce its debt pile of $663.20m.
United ditched plans to raise up to $1 bn in Asia, home to many of United's 659 million global fans, and the move to North America, where English soccer has a much smaller following, was surprising when flagged last month.
However, market volatility has delayed a number of flotations in Asia in recent months, including the Formula One motor racing business.
US investors are also familiar with the dual-class structure planned for United. The class A shares to be issued will have only a tenth of the voting rights of the ones held by the Glazer family who bought the club in 2005 for £790m ($1.24 billion).
"In the Premier League, recent investment from wealthy team owners has led to teams with deep financial backing that are able to acquire top players and coaching staff, which could result in improved performance from those teams in domestic and European competitions," United said in its Securities and Exchange Commission filing yesterday.
Formed in 1878, United, whose past players include George Best, Bobby Charlton and David Beckham, issued a hefty preliminary prospectus but has not yet given details on the timing of the float and the precise size.
The club had revenues of £331m last year but incurred finance costs of £51m after the Glazer take-over loaded the club with debt.
United was recently ranked by Forbes as the world's most highly valued sports team. As well as winning a record number of English titles, they have been European champions three times.
