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Baron has $150m Man United stake

12 March 2014, 08:31

London - US investment group Baron Capital has built up a stake worth about $150m in English soccer champions Manchester United, it said in a regulatory filing on Tuesday.

The investment by New York-based Baron represents about 5.8% of United's $2.6bn market value but a dual-share structure means that the American Glazer family remains firmly in control of the club.

It is however a vote of confidence for United in a season in which the team has struggled on the field and risks missing out on a lucrative place in the Champions League for next season.

In its most recent investment guidance, Baron - describing itself as a long-term investor in growth businesses - said it remained positive on United's prospects, citing the possibility of a renwewed kit supply deal with US sportswear group Nike.
United shares closed at $15.84 in New York on Monday, up from a flotation price of $14 in August 2012.

Despite the listing, the Glazers maintain a tight grip on United through the ownership of a separate class of shares with 10 times the voting power of those traded on the stock market.

- Reuters


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