There has been a new twist in the ownership of Manchester United, with a billionaire buying a stake in the club.
Bloomberg report the surprise news Leon Cooperman has purchased a stake in Manchester United, purchasing shares worth 16.8 million US dollars.
It is a small shareholding, but notable at a time at which Manchester United are undergoing changes, with Sir Jim Ratcliffe set to finalise a £1.35 billion investment in the club, BBC Sport report.
Ratcliffe’s stake will purchase 25 per cent of the club, and an agreement is set to give him a big say in the running of the sporting operations at Manchester United.
Leon Cooperman buys Manchester United shares
Leon Cooperman’s acquisition of shares comes amid reports via Front Office Sports that minority shareholders Ariel Investments have sold off 13 per cent of their shareholding in Manchester United.
Ariel Investments at one stage owned 12.3 million shares a year ago. This is now down to 5.7 million shares.
New investor Leon Cooperman is said to have purchased just under one million shares.
It is always interesting when it is an individual investor buying shares as opposed to a hedge fund group, but from a day to day running perspective at Manchester United, this investment will have no bearing on the club’s operations, it is thought.
Who is Leon Cooperman
Leon Cooperman, 80, is an American investor and hedge fund manager. He is an active commentator in the US political spectrum.
Cooperman has a net worth of $2.6 billion, and thus could not afford to be a major player in a bigger acquisition of Manchester United.
He has recently courted controversy by announcing he would cut off donations to Colombia University due to protests from students against Israel’s role in the war in Gaza, Forbes reported.
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