February 19 – American billionaire Leon Cooperman has increased his stake in Manchester United, taking his holding to 5.2% of the club’s publicly traded Class A shares.
The move gives the 82-year-old investor control of more than 2.9 million shares, a position supposedly worth in excess of $50 million at current market value.
Cooperman first moved on United in the autumn of 2023, purchasing roughly 900,000 shares as Sir Jim Ratcliffe prepared to finalise his minority takeover.
The founder of New York-based hedge fund Omega Advisors, Cooperman has steadily built his holding since that initial investment, but there is no indication that he is seeking influence or a takeover.
His latest investment was not acquired at the expense of Ratcliffe or majority shareholders, the Glazer family, with Cooperman increasing his stake as UK investment firm Lindsell Train did the opposite.
United’s ownership structure remains weighted towards those holding Class B shares, which carry 10 votes per share compared to one vote per Class A share. The majority of those enhanced voting rights sit with the Glazer family and Ratcliffe, limiting the influence of minority Class A shareholders.
Ratcliffe completed his long-awaited entry into Old Trafford in early 2024, paying an initial £1.3 billion for a 25% stake. That then rose to 27.7% after a further £300 million capital injection, earmarked for ‘infrastructure improvements’.
Among the early projects was a £50 million redevelopment of the Carrington training complex, part of a broader push to modernise football operations and facilities at the club, and the long-term goal of a complete Old Trafford revamp/rebuild in the not-so-distant future.
Cooperman’s move signals continued investor interest in one of the world’s most commercially powerful clubs but leaves the club firmly under the control of the unpopular Glazers and Ratcliffe.
Contact the writer of this story, Harry Ewing, at moc.l1771515171labto1771515171ofdlr1771515171owedi1771515171sni@g1771515171niwe.1771515171yrrah1771515171
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