Billionaire George Soros invests in Man United

NEW YORK: US billionaire George Soros has bought a stake in Manchester United, the British football club that made its Wall Street debut earlier this month, according to a filing with US regulators.

Soros' investment firm bought approximately 3.1 million Class A shares, or 7.85 per cent of the total Class A shares, a filing with the US Securities and Exchange Commission (SEC) revealed.

That comprises 1.9 per cent of Manchester United, when the powerful Class B shares held by members of the Glazer family, who control and direct the club, are taken into account.

Class B shares enjoy 10 times the voting rights in the company as compared with Class A shares.

After an underwhelming initial public offering on August 10, shares in the club finished Monday at US$13.06, down 6.7 per cent from the IPO price of US$14.

Still, the club earned US$233 million from the IPO, which valued it at about US$2.3 billion, making it the most valuable sports team in the world.

Man United to list IPO in S'pore by end-2011

English Premier League football champions Manchester United plans an initial public offering in Singapore by the end of the year, depending on market conditions,

IFR reported on Tuesday, citing a source with direct knowledge of the plans.

With more than 190 million fans in Asia, out of nearly 300 million around the world, the region has become an important growth area for the team.