Manchester United may have failed to kick off the season with a good start, but the British football club has the backing of one of the US’s best known investors.
George Soros, the billionaire hedge fund manager, has brought almost 8% of the club's listed shares through his family office’s investment arm, Quantum Partners, according to a filing with US regulators.
Soros’s investment makes him one of the team’s biggest backers, after the Glazers – the family which controls the Premier League side.
The Glazer family acquired Manchester United in a controversial buy-out in 2005. After speculation the club’s initial public offering would take place in Asia, the Glazers recently floated a portion of the football side in New York. It is thought the floatation raised about $233 million (€186.6 million).
Soros, who converted his hedge fund into a family office last year, is chairman of Soros Fund Management – although day-to-day investment decisions are handled by his sons.
Manchester United lost their opening game of the season to Everton on 20 August.