Man United Takeover Twist As Billionaire Buys 1 Million Shares 

In spite of Sir Jim Ratcliffe’s impending purchase of a stake, American billionaire Leon Cooperman has acquired around one million Man United shares.

According to Bloomberg, the former hedge fund manager, whose estimated net worth is £2 billion ($2.6 billion), has acquired a late share in the Old Trafford club. He purchased the shares for about £13 million ($16.8 million). A number of hedge funds, including Psquared Asset Management AG and Antara Capital, have purchased club shares in the past year in anticipation of the takeover.

READ ALSO: Ratcliffe’s Potential Start Date Revealed Amid Man United Take Over

It is anticipated that Sir Jim Ratcliffe will complete his acquisition of a minority interest in United. Sheikh Jassim Bin Hamad Al Thani and the leader of the INEOS organisation were vying for control of the club. But the Qatari bid was withdrew, allowing Ratcliffe to finish his minority acquisition.

The Americans will likely retain a majority stake in United after Ratcliffe, a British billionaire, settled for a 25 percent stake for an alleged £1.3 billion ($1.6 billion), instead of his original goal of purchasing the entire team from the Glazer family. It is anticipated that he would assume leadership of football choices and that he is keen to increase Old Trafford’s capacity.

Ratcliffe hopes to bring about a revolution at Old Trafford and push Man United back to the pinnacle of English football, thus it is anticipated that his acquisition of a share in the team will be approved soon.