{{An American investment firm has acquired a quarter of all the Manchester United shares available on the New York Stock Exchange, the club announced on Tuesday.}}<\/p>\n
Baron Capital now owns 24 percent of all the shares that were sold by United\u2019s owners, the Glazer family, in 2012, although that represents only a 2.5 percent stake in the club.<\/p>\n
The Glazers, who purchased United in 2005, released 10 percent of the club onto the stock market in August 2012, but they still retain a 90 percent stake.<\/p>\n
Analysts believe that Baron Capital\u2019s move, announced on United\u2019s investor relations website, represents a long-term investment rather than a bid to one day acquire a controlling interest in the club.<\/p>\n
The news comes with the United team struggling following the departure of long-serving former manager Alex Ferguson in May last year.<\/p>\n
Under his successor, David Moyes, United have fallen out of contention for domestic silverware and are on the verge of elimination in the Champions League after a 2-0 loss to Olympiakos in the first leg of their last 16 tie.<\/p>\n
Baron Capital said that reports of a new multi-million dollar contract with US sportswear manufacturer Nike had encouraged it to increase its stake in the club despite United\u2019s on-pitch troubles.<\/p>\n
\u201cShares of Manchester United dropped due to a delay in the signing of a new global merchandise deal with Nike and the team\u2019s poor performance on the field,\u201d the firm said in a statement on its website.<\/p>\n
\u201cThe Nike deal is still expected to be signed, but has been pushed out from this fiscal year. We remain positive on the company\u2019s prospects going forward.\u201d<\/p>\n
United\u2019s share price closed at $15.84 (11.44 euros) on Monday, which was its highest level since November.<\/p>\n
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