British hedge fund manager Crispin Odey has reportedly made a 22 million dollar bet that Manchester United's NYSE shares are destined for the same fate as the club's dismal show this season.
Odey's fund has taken the multi-million short position against Man U shares and investors take such positions by borrowing a company's stock and selling it in anticipation of pocketing a profit when they buy the stock back at a lower price.
According to the Sydney Morning Herald, Odey's bet is quite in contrast with several investors who remain strong supporters of the team.
The club has seen a steady growth since its debut at 14 dollars per share, and with a strong brand and hundreds of millions of fans around the world, the club reported record revenue in 2013.
However, fears that the team's poor performance this year in the Premier League is seen by some analysts to seep into its balance sheets.
The report said that Odey is not the only investor to turn bearish on the company as 5 percent of the club's stock has been out on loan apart from it being 389.2 million pounds in debt.
