This Monday, Billionaire money manager George Soros declared that he owns 7.85% of the shares of Manchester United's Class A. The minor share was revealed in a regulatory filing, which was done by Soros' hedge fund, Soros Fund Management LLC. The petition has been filed with the U. S. Securities and Exchange Commission.
It has been reported that earlier this month, the shares of the 134-year old English Premier League soccer club have been opened for the public on the New York Stock Exchange.
However, the control still remains in the hands of the owner of the club. On the other hand, the American family, which has possession of the team, the Glazers, asserted that they have the power to vote through their Class B shares, which gives them 10 times more the authority to keep hold of the stock, in comparison to the members of the public.
The Glazer family is also the owner of the Tampa Bay Buccaneers, which is even a team belonging to America. Malcolm Glazer, the CEO of First Allied Corp., a company responsible for holding the shares of other companies, but doesn’t provide any services. Mr. Glazer’s both sons Avram and Joel are co-chairmen of Manchester United.
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