Breaking: American Billionaire takes stake in Manchester United

American billionaire Leon Cooperman has taken a late stake in Manchester United, according to recent reports.

Bloomberg have announced that American billionaire and former hedge fund manager Leon Cooperman has taken a stake in Manchester United of just under 1 million shares.

The sale of Erik ten Hag‘s club is coming to its one-year anniversary after the Glazer family announced in November 2022 that they would be looking for alternative investment.

Read More: Sir Jim Ratcliffe “wants to sell” four big Manchester United stars in Erik ten Hag’s squad

This has resulted in Sir Jim Ratcliffe gaining a 25% stake in the club, which is expected to be ratified within the next two weeks, but also now the news that Cooperman has acquired shares worth just under £13.5 million.

Cooperman is the chairman and CEO of Omega Advisors, which is an investment advisory firm managing over $3.3 billion in assets under management based in New York, with the majority consisting of his personal wealth.

He started his career working at Goldman Sachs in 1967, where he spent 22 years in the Investment Research Department before becoming chairman and chief executive officer of Goldman Sachs Asset Management in 1989.

In 2016 he organized a private investment partnership called Omega Advisors, Inc., and retired. That year he was also charged with insider trading where his firm agreed to a £3.9 million settlement with the Securities and Exchange Commission in May 2017 but admitted no wrongdoing.

His investment in the club is very minor and nowhere near the £1.25 billion that Ratcliffe is purchasing his 25% stake in the club for.