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21st Aug - George Soros buys 2% of Man United


Soros has just been buying 7.85% of the recent Man United US float giving him around 1.9% of the whole club.

Attracted by the massive increase in TV money and media rights increasing by 70% from next season

--- Quote ---Global tycoon George Soros buys into Manchester United
PUBLISHED: 09:39, 21 August 2012 | UPDATED: 09:39, 21 August 2012
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George Soros infamously made massive currency bets that effectively bumped the UK out of the European Exchange Rate mechanism
Global tycoon George Soros has bought a near-two per cent stake in Manchester United football club, it emerged today.
The billionaire's hedge fund - Soros Fund Management - has acquired 7.85 per cent of Man Utd's Class A shares, according to a filing with the U.S. Securities and Exchange Commission.
That equates to about 1.9 per cent of the entire club, which has just lost the first match of its 2012/13 Premier League campaign to Everton.
Man Utd floated on August 9 at a lower price than had been expected after scepticism about how much the club was worth had been exacerbated by the disaster of Facebook's overpriced initial public offering.
The offering on the New York Stock Exchange raised just over $233million.
The club's shares closed down 2.7 per cent at $13.06 last night, after hitting a new low of $12.91 earlier in the day, well off the IPO price of $14 per share.
Man Utd is owned by the Glazer family, which has interests ranging from shopping malls to the Tampa Bay Buccaneers football team.
The Glazers, who purchased Manchester United for 790million ($1.2billion) in 2005 in a highly levered deal, have kept control of the club after the IPO.

Robin Van Persie was Sir Alex Ferguson's flagship signing this summer.
Soros has converted is closely watched but has withdrawn from managing outside investors' money and converted his fund into a family affair.
One analyst said it was probably the team's lucrative media rights deals that had attracted Soros.
Philip Hall, at New York investment bank Inner Circle Sports - which has advised on high-profile English Premier League takeovers including Fenway Sports Group's acquisition of Liverpool - told Reuters: 'This could be a play by Soros on the strength of Manchester United's brand and the English Premier League's growing media rights.
'The domestic rights are set to increase 70 per cent for the 2013/14 season and the international media rights, set to be announced in late October or early November, are also expected to come in at a very robust uplift.'

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