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
Spurs Signs Vorm, Davies; Swans Sign Sigurdsson    
Tottenham Hotspur on Wednesday signed Dutch international goalkeeper Michel Vorm and Wales defender Ben Davies from ...
Stoke Signs Krkic From Barcelona    
Stoke City on Tuesday completed the signing of Bojan Krkic from Barcelona. Krkic, 23, became the ...
Report: Lampard Completes NYCFC Move     
Former Chelsea legend Frank Lampard has completed a move to new MLS franchise New York City ...
Barca Signs Mathieu from Valencia     
Barcelona on Wednesday signed central defender Jeremy Mathieu on a four-year contract from Valencia for 20 ...
Johnson Ready for 'Gladbach Challenge     
During his press unveiling on Wednesday, USA defender Fabian Johnson, who moved to Borussia Monchengladbach from ...
Van Gaal Bemoans Man United's Preseason USA Tour    
Louis van Gaal thinks Manchester United's preseason tour in the U.S. could jeopardize the club's success ...
German Politicians Question 2018 Russia World Cup     
Several senior politicians in Germany on Wednesday raised the possibility of stripping Russia of its right ...
Atleti Re-signs Tiago     
Atletico Madrid on Tuesday re-signed Tiago Mendes on a two-year deal, despite interest from Premier League ...
Koeman: Dani Osvaldo for Sale    
Southampton manager Ronald Koeman has confirmed that Daniel Osvaldo is for sale, but reports in Italy ...
BVB: Hummels, Reus Not for Sale    
Borussia Dortmund coach Jurgen Klopp on Tuesday poured cold water over the transfer speculation swirling around ...
>> Section 2 Around the Net Archives