Ariel Investments, which previously held 5% of Manchester United, increased its stake in the team to 13.8%.
The fund is now the third-largest owner of the team’s Class A common stock. Baron Capital Group owns 32% and Lindsell Train owns 29%. As of April 2021, the team was valued at $4.2 billion.
ESPN reported that Ariel’s latest investment was acquired through the franchise’s listing on the New York Stock Exchange and not through the Glazer family, which controls the club through Class B voting stocks after taking it over for $1.47 billion in 2005.
- Ariel now owns 5.97 million shares of the team, worth a reported $103.2 million.
- The fund reportedly has $15 billion in assets under management.
In March, Avram Glazer put $97 million worth of his shares up for sale. Shortly after, fans protested the family’s role in the short-lived Super League, saying their “sole motivation is personal profit.”
Manchester United decided to offer ownership shares to fans in June to win back their trust. The program will offer a new class of shares that carry the same voting rights as those held by the owners.
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