Fans wait for Ratcliffe, but another American just bought one million United's shares

On November 22nd 2023, it's gonna be an anniversary of the way when Manchester United celebrated, thinking that the Glazer family will sell their shares and leave their beloved club. A week before that anniversary, the reality is much different. They are strong as ever and have no intention to leave Old Trafford (just yet). Their statement of 'being open to investment' really meant that they are interesting selling out minority shares, not the ownership. Sir Jim Ratcliffe realized that on time, and turned his bid from full time owner to a minority owner and bought 25% for around 1.3 billion pounds. But that deal is yet to be announced publically, and the process is taking ages. It's been since October and every week there is information that it will probably happen during the next week. But in the meantime, there is another player on the horizon.

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According to Bloomberg, US billionaire Leon Cooperman has reportedly bought just under one million shares in Manchester United. A former hedge fund manager is now also a minority share and his shares are worth around 13.5 million pounds. Cooperman founded Omega Advisors which is a private investment partnership based in New York City and has a reported net worth of more than two billion pounds. This news also reflected the stock market, as United's share price on the New York stock exchange rose around 2.3 per cent to 18.60 dollars, the highest it has been since November 3. United's stocks fell dramatically in September this year, when the news broke out that the Glazers won't sell majority shares. (from 23.64 to 19.35 dollars).

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Ratcliffe's deal meanwhile should be official by...yes you guessed it – by next week. It is expected that the British billionaire will be in charge of the sporting sector and will eventually be the first in line to buyout the club, if the Glazers decide to sell their majority stakes. Since becoming the owners in 2005, the Glazers racked up the club's debts to 536 million pounds and overall, they have taken more than one billion pounds out of United in the form of dividends, interests, costs and fees during their 18-year-reign.