Manchester United has said it plans to raise as much as $330m (£210m) in a share listing in New York.
In documents filed with the Securities and Exchange Commission, the football club said it would sell 16.7 million shares at between $16 and $20 each.
But it also revealed that revenue had fallen in the last year as they were knocked out of the Champions League.
Manchester United was recently called the most valuable club in sport, worth $2.23bn, according to Forbes magazine.
The club has been controlled since 2005 by billionaire US sports investors the Glazer family, who also own the Tampa Bay Buccaneers American football team.
The Glazers' Class B shares will have 10 times the voting power of the Class A shares sold to the public.
United has said it plans to use the proceeds to repay debt.
The club currently has £437m of debt and £70m in cash.
In the regulatory filing, the club said its total revenue for the year to June was between £315m and £320m, down as much as 5% from last year.
That was mainly due to a 11-13% drop in broadcasting revenues - to £102m to £104m - after the team failed to make it past the group stages of Europe's premier club football competiton.