Odey’s Fund Takes $22 Million Bet Against Manchester Utd. Shares
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Hedge fund manager Crispin Odey is betting that the shares of English soccer champion Manchester United Plc will decline amid the club’s worst start to a season for 12 years.
Odey Asset Management LLP took a 0.78 percent short position on the club’s shares. The bet, on shares representing about $22 million based on United’s market value of $2.78 billion, was filed on Dec. 5, according to Bloomberg data. Odey, 54, is the founder of the London-based fund.