This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

George Soros Scores With Man U Stake

NEW YORK ( TheStreet) -- The man who broke the Bank of England is making waves again in the country, taking a large stake in the country's most successful soccer team, Manchester United (MANU - Get Report).

George Soros through his Soros Fund has taken a 7.85% passive stake in Manchester United, which recently went public. According to the filing, Soros Fund owns more than 3.1 million shares.

Soros is well-known for his political leanings and taking various stances on public policy, but is also well known for betting against the British pound. In an event now known as Black Wednesday, Soros sold short more than $10 billion worth of British pounds, speculating the Bank of England would eventually devalue the currency. The United Kingdom finally withdrew from the European Exchange Rate Mechanism, and devalued its currency, which netted Soros approximately $1 billion in profits. It's estimated it cost the UK Treasury approximately £3.4 billion.

Manchester United lost to rival Everton 1-0 in Monday's match. Shares of Man U fell 2.68% in Monday trade to $13.06, and were little changed in after-hours after the news broke.

Interested in more on Manchester United? See TheStreet Ratings' report card for this stock.

Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MANU $16.90 -1.63%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs