George Soros invests in Manchester United
August 22 , 2012
Billionaire investor George Soros has bought a stake in Manchester United soccer club, according to a U.S. regulatory filing.
Soros' investment fund bought a 7.85 percent stake in Class A shares, equal to about 3.1 million, in the club, according to the Securities and Exchange Commission.
Class A shares carry less voting power than Class B shares.
Soros’ shares equate to a 1.9 percent stake in the entire club, worth about $40.7 million at Monday's closing price.
Manchester United floated on the New York Stock Exchange earlier this month at $14 a share, valuing the club at more than $2.3 billion.
Since its August 10 listing, the Premier League’s share price has fallen 6.7 percent.