Join Now  | 
Home About Contact Us Privacy & Security Advertise
Soccer America Daily Special Edition Around The Net Soccer Business Insider College Soccer Reporter Youth Soccer Reporter Soccer on TV Soccer America Classifieds
Paul Gardner: SoccerTalk Soccer America Confidential Youth Soccer Insider World Cup Watch
RSS Feeds Archives Manage Subscriptions Subscribe
Order Current Issue Subscribe Manage My Subscription Renew My Subscription Gift Subscription
My Account Join Now
Tournament Calendar Camps & Academies Soccer Glossary Classifieds
Soros invests in Manchester United
AP, August 21st, 2012 3:21PM
Subscribe to Section 2 Around the Net


MOST READ


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
Man City Linked with Several Big Moves    
Spanish wonderkid Isco won't make a decision on his future next week at the earliest, the ...
Several Clubs in Gomez Talks     
Bayern Munich striker Mario Gomez, who was the back-up to Croatia international Mario Mandzukic for most ...
Chelsea Lands Favorable EPL Schedule     
The English Premier League schedule was released on Tuesday, and by most accounts, David Moyes' Manchester ...
Reports: Capello to Join PSG     
After Sky Sports Italia on Tuesday reported that Paris Saint-Germain had agreed to pay the $4 ...
West Ham Completes Record Carroll Signing     
West Ham United on Wednesday signed Andy Carroll from Liverpool on a six-year deal for a ...
Selecao Offers Support for Brazil Protests    
The violent protests that started in Brasilia with the opening game of the FIFA Confederations Cup ...
Report: Brazil's Under-Prepared Tourism Industry     
We're less than a year ahead of next summer's World Cup in Brazil, and the AP ...
Arrest Made in Soccer Dribbler Death     
Scott Van Hiatt, of Neskowin, was arrested on Monday, charged with the criminally negligent homicide of ...
Ethiopia Admits Using Suspended Player    
Sahilu Gebremariam, President of Ethiopia's soccer federation, has admitted that his team used a suspended player ...
Koscielny to Bayern or Barca?    
Laurent Koscielny's agent Stephane Couris has told Eurosport that his client is a summer target for ...
>> Section 2 Around the Net Archives