Home Global News US Billionaire Leon Cooperman Bets on Manchester United’s Future with Million-Share Purchase

US Billionaire Leon Cooperman Bets on Manchester United’s Future with Million-Share Purchase


American billionaire investor Leon Cooperman has secured a stake in Manchester United just days before Sir Jim Ratcliffe’s deal to take over 25% of the club is set to be ratified. 

Cooperman, 80, purchased one million shares in the Red Devils valued at around $16.8 million (£13.4m), as per a recent filing. The founder of New York-based Omega Advisors, he is thought to have a net worth of $2.6 billion (£2.08bn).

The news comes amid suggestions that INEOS owner Ratcliffe was closing in on a deal to invest in the club. 

Last month, a Qatari group led by Sheikh Jassim Bin Hamad J.J. Al Thani withdrew its offer to buy Manchester United, paving the way for British billionaire Jim Ratcliffe to eventually gain control of the storied football club.

Once a deal is completed, the 71-year-old is expected to take full control of the footballing operations at Old Trafford. He will now also likely work in tandemn with Cooperman after his own deal.

The British billionaire has a sporting empire that encompasses cycling, rugby, and sailing along with two football teams French side Nice and Swiss outfit Lausanne-Sport, while he also owns a third of F1 team Mercedes.

After the news of Cooperman’s investment, United’s share price on the New York stock exchange rose around 2.3 per cent to $18.60, the highest it has been since November 3, with the price having been highly volatile throughout the takeover process.

Filings on the stock exchange from earlier this year have also shown a number of hedge funds have acquired small stakes in the club, including Psquared Asset Management AG and Antara Capital.

Meanwhile, Eminence Capital, another hedge fund, is currently the third-largest shareholder in the club, according to Bloomberg.

Facebook Comments Box
Previous articleIce Hockey Star Adam Johnson’s Death Leads to Arrest: Man Suspected of Manslaughter
Next articleSharon Palmer Reacts to Audio Where She Threatened Darius Jackson for Abusing Keke Palmer
Monte OZ is a highly accomplished and respected international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger based in Africa. With a passion for storytelling, a sense of adventure, and an eye for all things captivating, Monte has become a prominent figure in the world of travel, entertainment, and lifestyle journalism. Born and raised in Africa, Monte developed a deep appreciation for the continent's diverse cultures, rich heritage, and vibrant entertainment scene. His upbringing fueled his desire to share Africa's untold stories and showcase its dynamic lifestyle to a global audience. Monte's extensive experience and expertise have made him a sought-after authority on all things related to travel, adventure, entertainment, and lifestyle in Africa. As an international freelance journalist, Monte has made significant contributions to various prestigious publications worldwide. His captivating articles, insightful interviews, and engaging features have graced the pages of leading entertainment magazines, lifestyle publications, and reputable news outlets. Monte's unique ability to capture the essence of Africa's entertainment and lifestyle scene has garnered widespread acclaim and recognition. With a love for exploration and a thirst for adrenaline, Monte also thrives as an active adventure reporter. He has embarked on daring expeditions, immersing himself in Africa's wild landscapes, and documenting his adrenaline-pumping experiences. Whether it's conquering treacherous peaks, exploring remote jungles, or engaging in heart-pounding activities, Monte's adventurous spirit and daring escapades inspire readers to embrace their own sense of adventure. In addition to his work in journalism and adventure reporting, Monte is a leading entertainment & lifestyle blogger in Africa. Through his influential blog, he offers readers an insider's view of the continent's vibrant entertainment scene, trendy hotspots, fashion trends, culinary delights, and cultural experiences. Monte's unique blend of storytelling, personal insights, and expert recommendations has made his blog a go-to resource for entertainment and lifestyle enthusiasts seeking the pulse of Africa's dynamic culture. Beyond his professional pursuits, Monte is a passionate advocate for promoting Africa's talent, creativity, and cultural diversity. He actively supports and champions emerging artists, musicians, designers, and entrepreneurs, helping to showcase their work to a broader audience. Monte's dedication to promoting Africa's vibrant entertainment and lifestyle industry has positioned him as a respected influencer and tastemaker within the African and global entertainment communities. With a commitment to excellence, a passion for exploration, and a talent for captivating storytelling, Monte Oz continues to captivate audiences worldwide. As an international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger, his work has left an indelible mark on the world of journalism, travel, and entertainment, solidifying his position as a trusted authority and go-to resource for all things related to African travel, adventure, and lifestyle.