NEW YORK (AFP)
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.
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