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Soros invests in Manchester United

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Soros invests in Manchester United

GEORGE SOROS - The billionaire has acquired approximately 3.1 million Class A shares, or 1.9% of Manchester United.

Reuters / Stefan Wermuth

US billionaire George Soros became a shareholder of the legendary football club Manchester United. He acquired 7.85% stake in the team traded on Wall Street, according to a document released Monday by the US stock gendarme (SEC).

The businessman bought on the New York financial center approximately 3.1 million Class A shares, the document said. This represents 1.9% of Manchester United taking into account the class B shares held by members of the Glazer family that control and direct the club. This type of securities carrying voting rights ten times the Class A shares that are traded on Wall Street.

Manchester United had its IPO on August 10 and has little mobilized since. After entry without panache, ending his first title perfectly stable session at $ 14, the club finished Monday at 13.06 dollars, down 6.7% compared to its launch price. The sports team, however, had raised $ 233 million in its IPO, which valued it at about $ 2.3 billion and made him the most expensive sports team in the world.

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