Tuesday, 21 August 2012

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.
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 percent 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, reports
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
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

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