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US investment firm BlackRock buys stake as Man Utd share value jumps 35%

US investment firm BlackRock has bought a major stake in Manchester United.

The New York-based company announced it has bought 3.3 million shares, giving it an 8% stake in the club's publicly traded stock.

Owners the Glazer family maintain control through Class B shares that have 10 times the voting power of the stock sold to the public.

The billionaire US sports investors bought the club in 2005 for £940m - a takeover which left debts of £423m.

The Red Devils, who claim to have 659 million fans across the world, went public on the New York Stock Exchange last August.

Manchester United Plc has seen its stock rise about 35% in the past three months.

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