George Soros’s $25 billion Soros Fund Management took a 7.9 percent stake in Manchester United, the English soccer club that sold shares in an initial public offering this month.
The New York-based family office for Soros disclosed the stake in the 134-year-old team in a regulatory filing yesterday. Manchester United, which has won a record 19 championships, raised $233.3 million in its US offering on Aug. 9. The shares have tumbled 6.7 percent since the IPO.
The IPO price gave the Glazer family’s team an enterprise value of $2.9 billion, about $1 billion more than the value of Spain’s Real Madrid, according to data compiled by Bloomberg and Forbes.
The Glazer family bought the team in 2005 and has 99 percent of the voting rights. The company is using the proceeds of the stock sale to pay down debt.
Michael Vachon, a spokesman for Soros, didn’t immediately return a phone call seeking a comment.
Everton yesterday defeated Manchester United 1-0 to complete the first round of games in the English Premier League soccer season.