Sir Jim Ratcliffe completed his partial takeover of Manchester United in February 2024, but there has now been a slight change in ownership at the club, with Leon Cooperman increasing his stake in the Red Devils.
Leon Cooperman increases his stake in Manchester United (Image: Getty Images)
American businessman Leon Cooperman has increased his stake in Manchester United, but has no plans to buy it outright. The 82-year-old bought 900,000 shares in 2023, just before current owner Sir Jim Ratcliffe completed a partial takeover of the club.
Mr Cooperman is now expanding his minority stake by buying a larger stake in the Premier League giants. He currently owns 5.2% of United and has bought an additional 2 million shares, according to the Independent.
Mr Cooperman’s United stake is now valued at more than $50m (about £36.9m) after he bought the extra shares from British investment firm Linsell Train, but neither Mr Ratcliffe nor the Glazer family have sold their shares.
Cooperman, the founder of Omega Advisors, is not believed to be planning a formal purchase of United. His shares will reportedly be in the Class A category, giving each share one voting right.
Class B shares have greater voting power, with each share carrying 10 votes. Class A stock is primarily held by both the Glaser and Ratcliff families.
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The INEOS owners signed a deal to buy a 25 per cent stake in United in February 2024, but their stake increased to 27.7 per cent after pumping a further £300m into the club and spending on the club’s infrastructure.
The club recently announced plans for a glittering new stadium on the grounds of Old Trafford, and the Red Devils’ Carrington training ground is also being renovated. But Ratcliffe has also come under fire in recent years for making drastic job cuts and cost cuts across the business.
Mr Ratcliffe has recently come under fire for suggesting Britain is being “colonized by immigrants”. He attempted to apologize for his comments and United issued a statement.
Sir Jim Ratcliffe will be part-owner of Man United from 2024 (Image: Getty Images)
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It reads: “Manchester United prides itself on being an inclusive and welcoming club. Our diverse players, staff and community of supporters around the world reflect the history and heritage of Manchester, a city that everyone can call home.”
“Since launching All Red All Equal in 2016, we have embedded equality, diversity and inclusion in everything we do.
“We remain deeply committed to the principles and ethos of that campaign. They are reflected not only in our policies but also in our culture, and are reinforced by our upholding of the Premier League’s high equality, diversity and inclusion standards.”
United currently sit fourth in the Premier League and Michael Carrick has made a great impact at Old Trafford since replacing Ruben Amorim.
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