American billionaire Leon Cooperman has significantly increased his financial interest in Manchester United, marking a notable development in the club's ownership landscape. The veteran investor, aged 82, now holds 5.2 percent of the club's Class A shares, with the stake valued at more than $50 million.
Investment Timeline and Share Acquisition
Cooperman first entered the Manchester United investment scene in the autumn of 2023, purchasing approximately 900,000 shares. This initial move coincided with Sir Jim Ratcliffe's planning phase for his takeover of the club. Since then, Cooperman has expanded his holdings to over 2.9 million shares, solidifying his position as a key shareholder.
Background and Intentions
Leon Cooperman is the founder of Omega Advisors, a prominent investment firm based in New York. Despite his increased stake, there is no indication that Cooperman is planning a takeover of Manchester United. His recent share acquisitions were not sourced from Ratcliffe or the Glazer family but rather from other investors, including British investment firm Lindsell Train, which has reduced its stake in the club.
Ratcliffe's Involvement and Club Developments
Sir Jim Ratcliffe's involvement with Manchester United has been substantial, with an initial investment of £1.3 billion to acquire a 25 percent stake in the club, equating to around $33 per share. This stake was later increased to 27.7 percent following an additional £300 million injection aimed at infrastructure improvements. Key projects include a £50 million revamp of the Carrington training complex, enhancing the club's facilities.
Voting Rights and Share Structure
Manchester United's share structure includes Class A and Class B shares, with significant differences in voting power. Class B shares, largely held by the Glazer family and Ratcliffe, carry 10 votes per share, compared to just one vote per Class A share. This arrangement means that while Cooperman's stake is financially substantial, it does not confer major voting influence, as his holdings are primarily in Class A shares.
The increased investment by Cooperman reflects ongoing interest in Manchester United from high-profile financiers, amidst broader changes in the club's ownership and operational strategies. This move underscores the global appeal of the football club as an asset, attracting investors like Cooperman who see long-term value in its brand and potential.
