LEON COOPERMAN, an American billionaire, has upped his stake in Manchester United.
The 82-year-old now has almost 3million Class A shares in the club after .
Leon Cooperman has bought a large set of Class A shares in Manchester UnitedCredit: Getty
The American billionaire, 82, has almost $50million (£37m) in the Old Trafford clubCredit: Shutterstock Editorial
Cooperman is the founder of US-based hedge fund manager Omega Advisors.
His net worth is over $3.6billion (£2.67bn) but there is not thought to be any intention of a takeover at .
His Class A shares are worth over $50million (£37m) after buying out those from British business Lindsell Train .
Cooperman now holds 5.2 per cent of United’s less-dominant Class A shares.
Class B shares carry 10 votes each compared to just one with Class A.
and Ratcliffe hold the Class B shares with the club listed on the New York Stock Exchange.
spent £1.3billion to buy an initial 25 per cent in United in 2023, shortly after Cooperman’s involvement was filed with SEC (US securities and exchange commission).
That was bumped up to 27.7 per cent after £300million was committed to being spent on the training ground and other infrastructure.
Ratcliffe, despite being a minority investor, holds sporting control of United.
Cooperman’s Omega Advisors, which is now run by his family, has over $3.3billion (£2.2bn) in assets under its control.
Lindsell Train, another investment firm, sold 780,000 shares earlier this year.
They first plunged money into United in 2017, holding over 11million shares in 2021.
Shares have gradually been unloaded in the years since.
Eze Chidiebere Paul
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