{"id":295246,"date":"2023-11-14T19:24:25","date_gmt":"2023-11-14T19:24:25","guid":{"rendered":"https:\/\/sportstoft.com\/?p=295246"},"modified":"2023-11-14T19:24:25","modified_gmt":"2023-11-14T19:24:25","slug":"us-billionaire-cooperman-purchases-one-million-shares-in-man-united","status":"publish","type":"post","link":"https:\/\/sportstoft.com\/soccer\/us-billionaire-cooperman-purchases-one-million-shares-in-man-united\/","title":{"rendered":"US billionaire Cooperman &apos;purchases ONE MILLION shares in Man United&apos;"},"content":{"rendered":"<h1>US billionaire Leon Cooperman &#8216;purchases ONE MILLION shares in Manchester United&#8217; &#8211; just days before Sir Jim Ratcliffe&#8217;s deal to take over 25 per cent of the club is set to be ratified<\/h1>\n<ul>\n<li><b>A prolonged sale process of Man United has been ongoing since\u00a0last November\u00a0<\/b><\/li>\n<li><b>Sir Jim Ratcliffe&#8217;s deal to take over 25 per cent of the club is nearing completion<\/b><\/li>\n<li><b>It\u2019s a three-team title race&#8230; Toney could lead Arsenal to glory: It&#8217;s All Kicking Off\u00a0<\/b><\/li>\n<\/ul>\n<p>US billionaire Leon Cooperman has reportedly bought just under one million shares in Manchester United.<\/p>\n<p>Bloomberg have reported that the shares purchased by Cooperman &#8211; who is a former hedge fund manager &#8211; are worth \u00a313.5m.<\/p>\n<p>The shock news of Cooperman&#8217;s investment comes as Sir Jim Ratcliffe&#8217;s deal to take over 25 per cent of the club for \u00a31.3bn is nearing completion after a\u00a0long-winded sale process that began last November.\u00a0\u00a0<\/p>\n<p>Ratcliffe and Qatari royal Sheikh Jassim bin Hamad Al Thani were the front-runners in the bidding war and both parties submitted multiple offers, before Jassim withdrew from the process last month.\u00a0<\/p>\n<p>Cooperman, 80, founded Omega Advisors which is a private investment partnership based in New York City and has a reported net worth of more than \u00a32bn.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/14\/18\/77793823-0-image-a-1_1699984837748.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>US billionaire Leon Cooperman has reportedly bought almost one million shares in Man United<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/14\/18\/76750423-12748931-Sir_Jim_Ratcliffe_is_set_to_pay_1_4billion_to_purchase_a_25_per_-a-14_1699987084443.jpg\" height=\"414\" width=\"634\"><\/p>\n<p>It comes as Sir Jim Ratcliffe&#8217;s deal to purchase a 25 per cent stake is nearing completion<\/p>\n<p>Your browser does not support iframes.<\/p>\n<p>However, he is expected to take a much smaller stake than Ratcliffe, meaning the unpopular Glazers will retain their majority ownership of the club.\u00a0<\/p>\n<p>Ratcliffe, who is head of INEOS,\u00a0\u00a0is set to be in control of football matters at Old Trafford.<\/p>\n<p>The British billionaire has a sporting empire which encompasses cycling, rugby and sailing along with two football teams in French side Nice\u00a0and Swiss outfit\u00a0Lausanne-Sport, while he also owns a third of F1 team Mercedes.<\/p>\n<p>After the news of Cooperman&#8217;s investment, United&#8217;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.<\/p>\n<p>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.<\/p>\n<p>Meanwhile, Eminence Capital, another hedge fund, is currently the third-largest shareholder in the club, according to Bloomberg.<\/p>\n<p>Their founder Ricky Sandler recently said he would &#8216;oppose any (takeover) deal that gives the majority Glazers a materially better deal than minority investors&#8217;.<\/p>\n<p>Elsewhere, Mail Sport had reported on Sunday how t<span>hose with knowledge of the takeover situation say there is a chance the agreement for Ratcliffe&#8217;s 25 per cent stake could be announced this week, although next week is more likely.\u00a0<\/span><\/p>\n<p>The anniversary of a tiresome process, which began when the Glazers confirmed they were open to investment, is November 22.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/14\/18\/77794921-12748931-image-a-15_1699987133631.jpg\" height=\"459\" width=\"634\"><\/p>\n<p>Cooperman, 80, is a former US hedge fund manager and has a net worth of more than \u00a32bn<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/11\/14\/18\/76750579-12748931-United_s_hugely_unpopular_American_owners_have_drained_more_than-a-16_1699987470203.jpg\" height=\"424\" width=\"634\"><\/p>\n<p>United&#8217;s hugely unpopular American owners have drained more than \u00a31bn out of the club since their leveraged takeover in 2005 (pictured &#8211; Avram Glazer (left) and Joel Glazer (right)<\/p>\n<p>While Ratcliffe hopes to complete a full takeover one day, for United fans it will at least take some control away from the hugely unpopular Glazers.<\/p>\n<p>The American family have\u00a0<span>have been a source of contention at Old Trafford ever since they became majority owners in 2005, facing significant fan anger and backlash.\u00a0<\/span><\/p>\n<p>After taking over the club through a leveraged buyout which placed \u00a3525m worth of loans onto the brand of United, they have racked up the club&#8217;s debts to \u00a3536m.<\/p>\n<p>Overall, they have taken more than \u00a31bn out of United in the form of dividends, interests, costs and fees during their 18-year-reign, which has been dominated by a decline in on-pitch performance and success.\u00a0<\/p>\n<h3>IT&#8217;S ALL KICKING OFF!\u00a0<\/h3>\n<p><span><span>It&#8217;s All Kicking Off is an exciting new podcast from Mail Sport that promises a different take on Premier League football.<\/span><\/span><\/p>\n<p><span><span>It is available on MailOnline, Mail+, YouTube, Apple Music and Spotify.<\/span><\/span><\/p>\n<p>Your browser does not support iframes.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/i\/pix\/2017\/08\/02\/636x90_facebook_ad_sport.png\" width=\"636\" height=\"90\"><br \/>\nSource: <a href=\"https:\/\/www.dailymail.co.uk\/sport\/football\/article-12748931\/Leon-Cooperman-Manchester-United-Sir-Jim-Ratcliffe.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>US billionaire Leon Cooperman &#8216;purchases ONE MILLION shares in Manchester United&#8217; &#8211; just days before Sir Jim Ratcliffe&#8217;s deal to take over 25 per cent <a class=\"mh-excerpt-more\" href=\"https:\/\/sportstoft.com\/soccer\/us-billionaire-cooperman-purchases-one-million-shares-in-man-united\/\" title=\"US billionaire Cooperman &amp;apos;purchases ONE MILLION shares in Man United&amp;apos;\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":295245,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US billionaire Cooperman &amp;apos;purchases ONE MILLION shares in Man United&amp;apos; - Sportstoft<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sportstoft.com\/soccer\/us-billionaire-cooperman-purchases-one-million-shares-in-man-united\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US billionaire Cooperman &amp;apos;purchases ONE MILLION shares in Man United&amp;apos; 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