US billionaire sparks confusion by purchasing one million Manchester United shares

American billionaire Leon Cooperman has sparked confusion among Manchester United supporters by buying almost a million shares in the club.

Sir Jim Ratcliffe is expected to be announced as a minority owner in the next fortnight, when his £1.4bn investment is ratified.

The billionaire’s move is with a view to taking full control of the club over the long-term, but the Glazers will retain control until that point.

However, Cooperman has spent almost £15m in buying one million shares in the last week.

While that’s a relatively small amount in the grand scheme of things, it raises confusion about the Glazers’ short-term goals.

The Americans have full control of the club in this moment in time, but only around 70% of shares.

It could be that their decision to sell more shares raises the possibility that they are slowly extracting themselves from the club.

Cooperman’s wealth stands at around £2bn, and United’s share price rose on the news that he has invested in the club.

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