Billionaire investor George Soros has become one the biggest backers of Manchester United Football Club after buying a near 8% stake in its listed shares.
Manchester United floated a portion of the club in New York earlier this month after failed attempts to list in Hong Kong and Singapore. Quantum Partners, the investment arm of Soros's family office, acquired a 7.85% stake in Manchester United Class A shares at a cost of $43.4m, according to a filing with US regulators. It means he owns almost 2% in the entire club. As a result, hedge fund manager Soros becomes one of the Manchester United's biggest backers behind the Glazer family, who bought the club seven years ago for a reported $1.47bn. The company's IPO was expected to raise ...
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