Manchester United have received fresh investment from a US billionaire, amid the ongoing takeover saga with Sir Jim Ratcliffe.
Ratcliffe is expected to purchase a 25 per cent stake in Manchester United in the coming days, worth £1.3bn, almost a year after the Glazers announced a strategic review of the club's finances.
While the Ineos CEO still hasn't put pen to paper on the deal which will see him acquire a minority stake in the club, despite months of arduous negotiations, hedge fund manager Leon Cooperman secured a stake in Manchester United after buying one million shares.
According to The Sun, Cooperman's investment in the club totals £13.5m, with the 80-year-old having a net worth of over £2bn. It isn't expected that his purchase of shares will affect Ratcliffe's potential deal, however, with the final pieces currently being put into place.
Though he will only become a minority investor in Manchester United, Ratcliffe still harbours ambitions of a full takeover in the future, with the BBC reporting that him becoming a silent partner to the Glazers is "impossible to imagine".
Expected to take over the football operations at Old Trafford, Ratcliffe will reportedly demand answers to Manchester United's sub-par performances on the pitch and, more importantly, in the recruitment department.
Since Sir Alex Ferguson retired a decade ago, the club has spent £1.4bn on new signings, with only a handful adding value to the squad over an extended period of time.
Ratcliffe is therefore planning a major overhaul of the club's recruitment process. CEO Richard Arnold, football director John Murtough and director of football operations David Harrison are all at risk of losing their jobs as a result, with Ratcliffe set to stamp his authority on the club.
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