US BILLIONAIRE GEORGE SOROS has bought a stake in Manchester United, the British football club that made its Wall Street debut earlier this month, according to a filing with US regulators on Monday.
Soros’ investment firm bought approximately 3.1 million class A shares, or 7.85 percent of the total Class A shares, a filing with the US Securities and Exchange Commission (SEC) revealed.
Advertisement
That comprises 1.9% of Manchester United, when the powerful Class B shares held by members of the Glazer family, who control and direct the club, are taken into account.
Class B shares enjoy 10 times the voting rights in the company as compared with Class A shares.
After an underwhelming initial public offering on August 10, shares in the club finished Monday at $13.06, down 6.7 percent from the IPO price of $14.
Still, the club earned $233 million from the IPO, which valued it at about $2.3 billion, making it the most valuable sports team in the world.
Billionaire George Soros invests in Man United
US BILLIONAIRE GEORGE SOROS has bought a stake in Manchester United, the British football club that made its Wall Street debut earlier this month, according to a filing with US regulators on Monday.
Soros’ investment firm bought approximately 3.1 million class A shares, or 7.85 percent of the total Class A shares, a filing with the US Securities and Exchange Commission (SEC) revealed.
That comprises 1.9% of Manchester United, when the powerful Class B shares held by members of the Glazer family, who control and direct the club, are taken into account.
Class B shares enjoy 10 times the voting rights in the company as compared with Class A shares.
After an underwhelming initial public offering on August 10, shares in the club finished Monday at $13.06, down 6.7 percent from the IPO price of $14.
Still, the club earned $233 million from the IPO, which valued it at about $2.3 billion, making it the most valuable sports team in the world.
(c) AFP, 2012
‘I think a lot of people forgot that Everton are a good team as well’ – Moyes
As it happened: Everton v Manchester United, Premier League
To embed this post, copy the code below on your site
Cash Splash George Soros Glazer family Investment SEC Securities and Exchange Commission Shares Manchester United Wall Street