US investment firm buys 8% stake in Man United
US investment firm BlackRock has taken a stake in Manchester United FC.
In a filing with the Securities and Exchange Commission yesterday, New York-based BlackRock said it had acquired 3.3 million shares in Manchester United PLC.
That gives it an 8% stake in the club’s publicly-traded stock.
The 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 supporters.
Its stock has risen about 35% in the past three months.