A United States investment firm has reportedly snapped up a quarter of the Manchester United shares available on the New York Stock Exchange.

The Glazer family, who own the Premier League outfit, placed just 10% of the club on the stock market, meaning that they hold a majority stake of 90% at Old Trafford.

Baron Capital have announced that they now own 2.5% of the club, and are confident that it is a worthy investment, despite value dropping due to United's poor form on the pitch.

According to the Irish Examiner, Baron Capital said on their website: "Shares of Manchester United dropped due to a delay in the signing of a new global merchandise deal with Nike and the team's poor performance on the field.

"The Nike deal is still expected to be signed, but has been pushed out from this fiscal year. We remain positive on the company's prospects going forward."

Reports have emerged this week claiming that the Red Devils are expected to announce a world-record kit deal with Nike worth around £600m.