British investment firm raises stake in Manchester United
26 September 2019
Finsbury Growth & Income Trust now owns a five per cent stake in Manchester United.
The company first bought shares in the summer of 2017 and utilised a dip in the stock value following the publication of United's accounts to increase their stake.
Manchester United presented their financial accounts for their fiscal year of 2019 on Tuesday, registering a record-breaking revenue of £627.1 million - the first English club to break the £600 million barrier.
However, the stock market reacted negatively to the accounts, taking a five per cent downswing at the news that the club expect a revenue decrease of at least £47 million in the coming season - a result of not qualifying for the Champions League.
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