Baron Capital, an investment firm in the US, is recently building up stakes in an English club, Manchester United. The club is listed in New York as Manchester United PLC.
Almost a Quarter
Through a stock listing, the Glazer family has sold 10 per cent of its holding in the club back in 2012. But now, Baron Capital is reported to have bought around 24 per cent of those shares.
The shares of Man Utd were down 0.9 early March 11 at $15.71.
In spite of such a huge financial move, many experts say that it is simply an investment strategy. According to financial analyst Andy Green, Baron’s move looks nothing like a takeover.
“This is absolutely not the start of any takeover,” said Green. “You could buy all the shares available on the stock market and you would still only have 10 percent of the club and about 1.3 percent of the votes …. They have a reputation as a long-term investment company.”
Manchester United is one of the most lucrative brands in the sports world, though it is currently struggling in the Premier League season.