Monday 21 April 2014

BlackRock takes stake in Man Utd

Manchester United PLC stock has risen about 35 per cent in the past three months

US investment firm BlackRock has taken a stake in Manchester United.

In a filing with the Securities and Exchange Commission, New York-based BlackRock said it has acquired 3.3 million shares in Manchester United PLC.

That gives it an 8% stake in the club's publicly traded stock.

The English 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 followers.

Its stock has risen about 35% in the past three months.

Press Association

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