An American billionaire is believed to have purchased one million shares in Manchester United, with significant changes at the Red Devils expected in the coming weeks.
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Amid rumours that INEOS CEO Sir Jim Ratcliffe is closing in on a 25% stake of the 20-time English champions, American billionaire investor Leon Cooperman is believed to have secured a stake in the club.
According to the Daily Mirror, the 80-year-old has bought one million shares in the Manchester-based giants for about £13.4 million (R305 million).
The report states that Cooperman is the founder of New York-based Omega Advisors and has a net worth of £2.08 billion (R47.3 billion).
Just less than a year ago, the Glazer family, still the current owners of United, announced they were open to investment amid unrest among supporters.
The American family completed a takeover of the club in 2005 and have long been accused of mismanaging matters since, despite the early success of the team under Sir Alex Ferguson between their arrival and 2013.
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This deal will reportedly have no effect on Ratcliffe's hopes of acquiring a quarter of the club, with the English billionaire expected to work in tandem with Cooperman.
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