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
Arrests Mar Roma's UCL Win     
Police arrested three fans prior to AS Roma's UEFA Champions League opener against Russian side CSKA ...
Roma Players Warn City, Bayern Following Rout     
AS Roma's players said they are full of confidence following their 5-1 hammering of CSKA Moscow ...
Di Maria: "I Needed to Change My Life"    
In an interview with Perform, Manchester United forward Angel Di Maria says that he left Real ...
Drogba: "I'm Like a Diesel, I Need Time"    
Didier Drogba admits that he needs time to regain his fitness and confidence after squandering chances ...
Ajax Earns Draw with PSG    
Danish international Lassa Schone scored in the 74th-minute from a free kick to spoil Zlatan Ibrahimovic's ...
Barca Uninspiring in Narrow UCL Opener     
It was an uninspiring debut for Barcelona coach Luis Enrique in the UEFA Champions League on ...
Mourinho: Costa's Hamstring Injury a Concern     
Chelsea coach Jose Mourinho reiterated his concerns over striker Diego Costa's hamstring following the Blues' 1-1 ...
Report: NYCFC Eyes Queens Stadium    
New York City FC is considering building its stadium near the Acqueduct Racetrack in Queens, Capital ...
Ronaldo on Track to Break European Scoring Records    
If he remains injury-free this season, Cristiano Ronaldo should become the all-time leading scorer in both ...
Jardim: Monaco "Superior" in UCL Opener    
Leanardo Jardim hailed AS Monaco's "superior" display in Tuesday's 1-0 win against Bundesliga giant Bayer Leverkusen ...
>> Section 2 Around the Net Archives