Manchester United is one of the wealthiest and most widely supported football teams in the world. As of July 2011, the club is number one in Forbes magazine's annual ranking of the world's 50 most valuable sports teams, valued at $1.86 billion. After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost £800 million.