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| Manchester United: George Soros invests in football club | Manchester United: George Soros invests in football club |
| (40 minutes later) | |
| The billionaire investor George Soros has bought a stake in Manchester United football club, a US regulatory filing showed. | 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. | 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. | 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. | 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. | 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. | 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. | 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. |