Manchester United Football Club is an English professional football club, based in Old Trafford, Greater Manchester, that plays in the Premier League. Founded as Newton Heath LYR Football Club in 1878, the club changed its name to Manchester United in 1902 and moved to Old Trafford in 1910.
Manchester United have won many trophies in English football, including a record 20 League titles, a record 11 FA Cups, four League Cups and a record 19 FA Community Shields. The club has also won three European Cups, one UEFA Cup Winners' Cup, one UEFA Super Cup, one Intercontinental Cup and one FIFA Club World Cup. In 1998–99, the club won a Treble of the Premier League, the FA Cup and the UEFA Champions League, an unprecedented feat for an English club.
The 1958 Munich air disaster claimed the lives of eight players. In 1968, under the management of Matt Busby, Manchester United was the first English football club to win the European Cup. Sir Alex Ferguson won 25 major honours, and 38 in total, from November 1986 to May 2013, when he announced his retirement after 26 years at the club. Fellow Scot David Moyes was appointed as his replacement on 9 May 2013 but he got sacked and was replaced by Louis van Gaal on April 22, 2014 due to his bad performance and results at the club.
Manchester United is one of the wealthiest and most widely supported football teams in the world. 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. In August 2012, Manchester United made an initial public offering on the New York Stock Exchange. In January 2013, Manchester United became the first sports team in the world to be valued at $3 billion. Forbes Magazine valued the club at $3.3 billion – $1.2 billion higher than the next most valuable sports team.