BlackRock buys 8% stake of Man United's publicly traded stock
US investment firm BlackRock has taken a stake in British football club Manchester United.
In a filing with the Securities and Exchange Commission today, New York-based BlackRock said it has acquired 3.3 million shares in Manchester United PLC. That gives it an 8% stake in the club’s publicly traded stock.
The English club went public on the New York Stock Exchange last August. The American family which owns the team, the Glazers, maintain control through Class B shares that have 10 times the voting power of the stock sold to the public.
Manchester United is one of the most renowned sports teams in the world and claims 659 million followers.
Its stock has risen about 35% in the past three months.