Manchester United shares bought by a US Investment firm

It has been revealed that American Investment firm Baron Capital now has bought a quarter of the shares of the Old Trafford based club present in the NYSE

Although,the Glazers still own 90% of the struggling club but 10% is now owned by Baron Capital.

The company now owns 24% of all shares in the Old Trafford club that were listed by the Glazer family in 2012.

United are playing out a cloudy season so far and sit sixth in the Premier League and are targetting the 4th spot to make it to the next season’s Champions League.The 4th position will ensure an increase in revenues but as of now,their credentials are not good enough.

A securities and exchange commission filing on the Manchester United investor relations website tells that Baron Capital now owns 9,581,636 shares.

They were worth around $151m (£90m) at the close of the market on Monday(yesterday)

The Firm is still to announce the deal,which is expected to be announced along with the announcement of the signing of a big money deal with Nike.

“Shares of Manchester United dropped… due to a delay in the signing of a new globalmerchandise deal with Nike and the team’s poor performance on the field,” said a Baron Capital statement on its official website.

“The Nike deal is still expected to be signed, but has been pushed out from this fiscal year. We remain positive on the company’s prospects going forward.”