Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Soros invests in Manchester United
AP, August 21st, 2012 3:21PM

MOST READ

MOST COMMENTED

The rather tepid public offering for shares in Manchester United didn't deter U.S.-based billionaire George Soros from picking up a piece of the club.

Soros, who turned 82 last week, disclosed in a regulatory filing Monday that he owns 7.85 percent of Manchester United's Class A shares. The filing with the U.S. Securities and Exchange Commission was made by Soros' hedge fund, Soros Fund Management LLC.

Manchester United went public on the New York Stock Exchange earlier this month but the results were considered disappointing despite the rabid fan support the club enjoys in many parts of the world. It carried 416.7 million pounds ($666.2 million) in debt as of March 31. It had no debt when it was bought by American businessman Malcolm Glazer in 2005.

The Glazer family maintains voting control of the club through Class B shares that have 10 times the voting power of the stock sold to the public. Malcolm Glazer is CEO of First Allied Corp., a holding company with numerous business interests. His sons Avram and Joel are co-chairmen of Manchester United. Manchester United's stock closed at $14 on its first trading day, which valued the club at $2.3 billion, slightly higher than a record $2 billion paid for the Los Angeles Dodgers earlier this year. The company's stock closed at $13.06 on Monday, down 7 percent from its debut.

Read the original story...


1 comment
  1. Bill Anderson
    commented on: August 22, 2012 at 7:26 a.m.
    Manchester United's public offering is the greatest investment opportunity since.................................................................. FACEBOOK.


Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Ranieri Named Greece Coach     
Claudio Ranieri on Friday signed a two-year deal to manage Greece. The 62-year-old Italian replaces Fernando ...
West Ham's Carroll to Miss Four Months    
West Ham striker Andy Carroll is set to miss up to four months after suffering ankle ...
Pinto Quits Costa Rica     
Jorge Luis Pinto, who guided Costa Rica to a surprise quarterfinal finish at the World Cup ...
Cech to Fight for Chelsea Place    
Petr Cech has vowed to stay and fight for his place as his decade-long reign as ...
Mourinho: Drogba 'Belongs' to Chelsea    
Jose Mourinho on Friday admitted that he is considering re-signing Chelsea legend Didier Drogba, who is ...
Maradona Blasts Argentina's Coaching Decisions    
Former Argentina captain Diego Maradona, who famously inspired the Albiceleste to World Cup glory at the ...
FIFA Backs 2018 Russia World Cup     
FIFA on Friday said it remains committed to the 2018 World Cup in Russia, despite the ...
NBC Brings EPL to Movie Theaters    
NBC Sports and Fathom Events are teaming up to show English Premier League games on Saturday ...
Aguirre Named Japan Coach     
Former Mexico coach Javier Aguirre on Thursday was appointed head coach of the Japanese national team, ...
Swans Sign Montero    
Swansea on Thursday signed Ecuadorian winger Jefferson Montero on a four-year deal from Mexican club Morelia. ...
>> Section 2 Around the Net Archives