American billionaire Leon Cooperman buys £13.5 million worth of shares in Manchester United

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·14 November 2023

American billionaire Leon Cooperman buys £13.5 million worth of shares in Manchester United

In a surprising development in Manchester United’s takeover saga, US billionaire Leon Cooperman has purchased under one million shares of the club, as confirmed by Bloomberg on Tuesday evening.

Cooperman’s shares are believed to be worth £13.5 million.

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It comes amid Sir Jim Ratcliffe’s expected buy-in, which will see the INEOS CEO claim a 25 per cent stake and begin overseeing footballing and transfer matters from the moment the deal is announced.

United’s drawn-out takeover saga

The Glazer family disclosed in November last year that they would be opening up to outside investment, filling the Old Trafford faithful with the hope that their tumultuous reign would finally be coming to an end once and for all. However, they will be staying for the foreseeable future under Ratcliffe, though the Americans will be taking a backseat on key decisions and are expected to be bought out entirely in the coming years.

80-year-old Cooperman founded a private investment partnership, Omega Advisers, and has a net worth of over £2 billion, as per the Daily Mail.