American billionaire Leon Cooperman has a stake in Manchester United of 2.9 million shares. The 82-year-old investor initially bought shares in the Red Devils around the time Sir Jim Ratcliffe was planning his investment in the club. Cooperman recently acquired additional shares from a British investment firm but is not expected to launch a takeover bid himself.
Cooperman’s initial purchase of approximately one million shares occurred in late 2023, prior to Ratcliffe’s investment. According to The Independent, the founder of the US-based hedge fund Omega Advisors now owns 5.2% of United’s Class A shares, valued at over $50 million (£36.7m/€42m).
Despite this significant investment and a personal net worth exceeding $3.6 billion (£2.67bn), Cooperman is unlikely to seek a controlling stake in United. Class A shares carry significantly less voting power than Class B shares, with the latter holding ten votes per share compared to the former’s single vote.
The Glazer family retains a voting majority of approximately 67%, while Ratcliffe owns around 28%. The Glazers maintain control over the corporate and commercial operations of the club, while Ratcliffe and INEOS oversee football operations.
Despite recent changes at Old Trafford, many supporters remain dissatisfied with the Glazers’ ownership, staging protests as recently as early February. The 1958 Group announced plans for a demonstration before the game against Fulham, criticizing the club’s decline and Ratcliffe’s perceived “complicity.”
Ratcliffe himself has faced scrutiny recently. His comments during a Sky News interview, in which he stated that the United Kingdom had been “colonised by immigrants” and provided inaccurate population statistics, drew widespread criticism.
He claimed: “You can’t have an economy with nine million people on benefits and huge levels of immigrants coming in. I mean, the UK has been colonised. It’s costing too much money.
.. The UK has been colonised by immigrants, really, hasn’t it? I mean, the population of the UK was 58 million in 2020, now it’s 70 million. That’s 12 million people.”
Ratcliffe later apologised, “that my choice of language has offended some people in the UK and Europe,” but appeared to reiterate his previous points in the same statement.
Figures such as Prime Minister Keir Starmer, Mayor of Greater Manchester Andy Burnham, and the anti-racism organization Kick It Out called for Ratcliffe to apologize. Starmer stated: “Britain is a proud, tolerant, and diverse country. Jim Ratcliffe should apologize.”
Amidst the public relations challenges posed by Ratcliffe’s comments, Michael Carrick’s team has performed well on the pitch since the former England midfielder replaced Ruben Amorim as manager until the end of the season. Four wins and a draw in their last five Premier League games have propelled them to fourth place, improving their chances of securing Champions League qualification for next season despite a previously inconsistent start.
Their next match is against Everton at Goodison Park on Monday night. Following that, Carrick’s side will face Crystal Palace, Newcastle United, Aston Villa, and Bournemouth before the March international break.
