American billionaire Leon Cooperman 'takes late stake' in Manchester United in latest takeover twist

American billionaire Leon Cooperman has purchased a minority stake in Manchester United in the latest twist of the takeover process, according to reports.

Bloomberg reported on Tuesday evening that the former hedge fund manager has filed just under one million shares in United, which is currently valued at $16.8million (£13.46m). Cooperman, 80, has an estimated net worth of $2.6billion.

It has been almost one year since the Glazers announced plans for a strategic review at United, essentially paving the way for major investment or a complete takeover. The American family are expected to retain power after Sheikh Jassim bin Hamad al Thani withdrew from the process.

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Sir Jim Ratcliffe is expected to become a minority shareholder, with confirmation due to come as early as next week. The INEOS chief is thought to be investing around £1.4billion in return for a 25 per cent stake.

Ratcliffe will also take charge of footballing operations at the club, having gained experience as owner of French side OGC Nice since 2019. He will likely bring in a number of his own men shortly after confirmation, with chief executive Richard Arnold and sporting Director John Murtough at risk of losing their jobs.

United's stock price rose around 2.24% on Tuesday amid the news, up to $18.34. That is the highest it has been since November 3.

There is continued frustration among United supporters not only at the length of time for investment to come through, but at the lack of communication from the Glazer family. The current owners have provided no update since announcing plans to