George Soros invests in Manchester United



August 21, 2012 /BBC News
The billionaire investor George Soros has bought a stake in Manchester United football club, a US regulatory filing showed.
Mr Soros' investment fund bought about 3.1 million Class A shares in the club, according to the Securities and Exchange Commission.
Class A shares carry one vote each, compared with 10 votes for every Class B share.
The club floated on the US stock market earlier this month.
While the figure was less than originally hoped, the flotation valued the club at more than $2.3bn (£1.46bn), making it one of the biggest sports clubs in the world.
Manchester United has been controlled since 2005 by the Glazer family, the billionaire US sports investors who also own the Tampa Bay Buccaneers American football franchise.
About half of the $233m that the club raised from its flotation will go to paying off the club's debts, with the rest going to the Glazers.
Manchester United's shares on Monday closed down 2.7% at $13.06, after hitting a fresh low of $12.91 earlier in the day.
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