US BILLIONAIRE Leon Cooperman has invested in Manchester United in an unexpected twist in the takeover saga.
The former hedge fund manager, 80, has bought just shy of ONE MILLION shares in the Red Devils.
Cooperman’s shares are understood to be valued at around £13.5million.
But he could invest more in the future with his net worth reportedly sitting at well over £2BILLION. The American is the founder of Omega Advisors which is an investment firm based in New York City.
The news comes just days before British billionaire businessman Sir Jim Ratcliffe is set to secure his 25 per cent takeover of the club.
Cooperman’s stake will be significantly less than that owned by Ratcliffe who is expected to pay £1.4billion for his quarter control of the Manchester giants.
Cooperman joins funds like Psquared Asset Management AG, which bought a stake valued around £20million, Antara Capital (£24million) and Eminence Capital (£14million) in buying Man Utd shares since takeover speculation started late last year.
And it’s relatively small size means that it is not expected to have any impact on Ratcliffe’s imminent deal. According to Sky Sports, Ineos owner Ratfcliffe will also invest £245m into the infrastructure of the club.
But despite an influx of new investors at Old Trafford, the Glazer family will still retain the majority share of the club.
However, Ratcliffe and his colleagues are expected to take control of football operations when his takeover is completed.
The 71-year-old has experience in high level sport with his company Ineos owning and investing across a number of different sports teams.
They own both Ligue 1 outfit OCG Nice and Swiss Super League side FC Lausanne-Sport.
As well as having their own extremely successful cycling team that competes in the Tour de France. – The Sun