Manchester United is IPO-ing pretty soon. What sort of factors would affect their share price? Unlike most companies, they don't have product announcements, weather and political factors don't really affect their growth prospects and their costs are almost entirely salaries.
Costs are almost entirely salaries
Apart from all the usual costs incurred by running a large, complex, business, ManU are servicing debt that is getting up around the GBP500M mark. This is debt racked up by the Glazer family since purchasing the team, as well as debt they took with them to the team.
What sort of factors would affect their share price?
Product endorsements, ticket prices, attendance, and merchandise sales are all important contributors. But also, performance in the domestic league and in domestic and European cups are also factors. Should their participation falter for any reason, that ripples through everything (decrease in brand exposure) - and this is, along with the debt problem, the biggest risk.
Edit: By the way, you are aware that this is an NYSE IPO; you can see how they have done on the FTSE over the past 10 years or so.