Despite Ratcliffe’s stake purchase, American billionaire Leon Cooperman secured about one million shares in Man United.
Bloomberg reports that the ex-hedge fund manager, with an estimated net worth of £2 billion ($2.6 billion), has recently acquired a significant stake in the Old Trafford club. He spent about £13 million ($16.8 million) on buying the shares. In the lead-up to the acquisition, several hedge funds, including Psquared Asset Management AG and Antara Capital, have also secured stakes in the club over the past year.
Anticipation surrounds Sir Jim Ratcliffe as he ends his buy of a minority stake in Man United. The leader of the INEOS group competed with Sheikh Jassim Bin Hamad Al Thani for the club takeover. However, the Qatari bid withdrawal cleared the path for Ratcliffe to finalize his minority takeover.
Initially, Ratcliffe expressed a desire to acquire complete ownership of United from the Glazer family. However, the Americans are set to maintain a majority stake in the club, as British billionaire Jim Ratcliffe chooses to acquire a 25 percent share, valuing at £1.3 billion ($1.6 billion). He will assume control of footballing decisions and is eager to increase Old Trafford’s capability.
Ratcliffe anticipates ratifying his stake buy in United in the near future, aiming to initiate a revolution at Old Trafford and guide the club back to the summit of English football.