Ariel Investments has increased its investment in Manchester United to 13.8 percent

After completing a purchase of Class A shares, mutual fund manager Ariel Investments has expanded its holding in English soccer giants Manchester United to 13.8 percent.

According to ESPN, the US$100 million sale was made through United's NYSE listing, and the club's owners, the Glazer family, have not traded any of their shares.

The Glazers own practically all of United's B class shares, which have voting rights, as opposed to the A shares, which they acquired in a leverage buyout for UK£750 million (US$1.47 billion at the time).

Ariel, based in Chicago, has increased its ownership in the club to more than 5%. Following a position above the 5% threshold, NYSE rules require a regulatory notification.




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