An American investment firm has acquired a quarter of all Manchester United shares available on the New York Stock Exchange, reports The Guardian. Baron Capital has been buying up stock and now owns 24% of all the United shares that were sold by the Glazer family in 2012, though that still only represents 2.5% of the club.
Analysts believe the accumulation of shares reflects the firm viewing United as a good long-term investment, rather than Baron Capital making any bid to secure a controlling interest in the club.
The Glazer family only released 10% of the club on to the stock market - they still retain 90% and control the vast majority of votes.
Baron Capital's United shareholding was confirmed in a Securities and Exchange Commission filing on the Manchester United investor relations website. It says Baron Capital now owns 9,581,636 shares, which were worth US$151m (£90m) at the close of the market on Monday.
The United share price closed at US$15.84 on Monday - the highest level since November.
