Shareholders score as United profits soar

AS Manchester United’s profits soared to record levels yesterday, the company’s biggest shareholders, Irish duo JP McManus and John Magnier, have seen the value of their holding in the club soar by 37.9% in three months to €38.42m.

The two maestros of the racing world’s 11.4% holding, held through their Cubic Expression investment vehicle, has risen from £27.8m in July, when they increased their stake to 11.4%, to £38.4m yesterday, a near 40% paper profit of £10.5m in just three months.

Shares in the world’s richest soccer club have risen in recent weeks on the back of takeover speculation that US billionaire Philip Anschutz, who also owns the Tampa Bay Buccaneers’ American football team, wants to acquire the United franchise.