NPR News

Manchester United is the most famous soccer team in the United Kingdom, and one of the world's most popular sports teams. Now its owners are hoping the team's popularity will translate into big bucks. They're planning to sell Manchester United stock on the New York Stock Exchange. Roger Blitz, of the Financial Times, talks to Renee Montagne about the team's IPO.

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STEVE INSKEEP, HOST:

The ownership of American pro sports got just a little more international. That's our last word in business today.

Pro basketball's Brooklyn Nets, formerly the New Jersey Nets, are owned by a Russian businessman. An Indonesian media owner possesses part of the Philadelphia 76ers. And now, that same Indonesian man is among the new investors in D.C. United, the pro soccer team. His name is Erick Thohir.

President Obama and Republican challenger Mitt Romney are hitting the campaign trail hard this week. On Tuesday, the president was campaigning in Iowa — the state that helped to launch his White House bid in 2008. He told supporters in Iowa he wants a second term in order to finish what he started.

The City Council in San Bernardino, Calif., voted Tuesday night to seek Chapter 9 bankruptcy protection, making it the third California city in less than two weeks to make the rare move. The city faces a $45 million budget shortfall.