BlackRock buys 8.21 percent stake in Man United
The New York-based investment firm BlackRock has taken an 8.21
percent stake in Manchester United.
In a filing with the Securities and Exchange Commission on
Wednesday, BlackRock Inc. said it acquired 3.3 million shares in
Manchester United PLC. The club went public on the New York Stock
Exchange last August.
The Glazer family, which took control of the team in 2005
maintains control through Class B shares that carry 10 times the
voting power of the stock sold to the public. There are 124 million
Class B shares and 39 million Class A shares, according to the data
The family loaded the club with debt following its takeover, but
United has paid down 62.6 million pounds ($99 million) of
The club’s stock has risen about 35 percent in the past three
months, closing Wednesday at $16.38.