Hedge-fund billionaire Leon Cooperman has recently made a noteworthy move by taking a stake in the iconic English soccer club, Manchester United. According to a 13-F filing, Cooperman acquired 929,078 shares of Manchester United, with a market value of $18,386,454.
Recently, shares of Manchester United Ltd. (MANU) experienced a 4.6% rise on Tuesday, outperforming the S&P 500's gain of 2%. However, despite this positive momentum, the club's shares have seen a decline of 19.6% in 2023, in contrast to the S&P 500's gain of 17.2%.
Manchester United's Ownership Attracts Attention
The ownership situation of Manchester United has been under scrutiny, with British billionaire Jim Ratcliffe reportedly close to securing a minority stake in the club. Ratcliffe is expected to pay around $1.52 billion for a 25% stake in Manchester United, becoming another prominent figure associated with the club.
Previously, Ratcliffe engaged in a takeover battle with Qatar's Sheikh Jassim to acquire control of Manchester United from the long-standing owners, the American Glazer family. Bloomberg reported in September that Ratcliffe was restructuring his bid to break the deadlock in the takeover battle.
Glazers Considering Options for Financial Investment or Sale
In November 2022, the Glazer family confirmed that they were exploring potential options for financial investment or an outright sale of the Premier League club. This announcement sparked speculation about the future ownership structure of Manchester United.
Manchester United recently secured a victory against Luton Town with a 1-0 scoreline. Currently, they hold the sixth position in the Premier League standings.