Manchester United’s share price rises amid billionaire Leon Cooperman investment reports

Manchester United’s share price was volatile today after reports broke that US businessman Leon Cooperman had bought just under a million shares in the club.

The valuation on the New York Stock Exchange rose after the news broke on Tuesday evening UK time. The overall price at closing bell in New York was $18.83, a rise of more than 5 per cent on Monday..

Cooperman is a former hedge fund manager with a net worth of more than £2billion. It has been almost a year since United was put up for sale and the stock market price has rocketed, with shares now worth 45 per cent more than they were in 2022.

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The valuation rose sharply in February when Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al-Thani announced their takeover bids for United. The latter withdrew his bid last month after becoming disillusioned by the Glazers’ price tag of the club, despite £5bn being offered for a full-scale buy-out.

It’s thought that the Glazers are hoping that the club’s value will rise with added Champions League and Club World Cup matches in the coming years. Meanwhile, the owners are set to ratify Ratcliffe’s minority investment bid in the coming weeks.

He is purchasing 25 per cent for £1.3billion with the INEOS chief set to take sporting control of the club. He had initially wanted a 69 per cent majority stake but pivoted with the Glazers dragging their feet over a full sale.