The bidding war for broadcaster Sky had already provided hedge funds with one of their best trades of the year. Saturday’s dramatic auction made it even better.

Paul Singer’s Elliott Management, Seth Klarman’s Baupost Group and Crispin Odey’s Odey Asset Management are among funds to have reaped huge profits from their positions this year. A 21-month sale process culminated in a dramatic auction on Saturday that saw US cable giant Comcast beat 21st Century Fox with a $38.8bn bid, or £17.28-a-share, or about $22.59 a share, to buy the broadcaster. That represents a 71% uptick in Sky’s share price this year.