Manchester United has become the highest valued sports team in the world, now worth approximately $3.3 billion dollars.
The American Glazer family that owns Manchester United sold 16.7 million shares or a 10 percent stake to the public in August 2012, according to Bloomberg.
After a slow start when the stock went public at $14, it rebounded in the past few days, topping the S&P 500, Forbes reports.
The business website credits billionaire investor George Soros’ 7.85% stake in the soccer club as one of the main reasons for its turn around. Soros bought approximately 3.1 million class A ordinary shares of Manchester United just shortly after it first went public.
The team was named as one of the most valuable sports teams by Forbes even then; it was valued at $2.23 billion at that time.
The team has also garnered numerous sponsorships with such companies as Japanese paint maker, Kansai and China Construction Bank; United also stands to make a lot of money if the team wins the English Premiership, as well as the Champions League.
The second highest valued sports team is now the Dallas Cowboys NFL team worth $2.1 billion.
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