Manchester United (NYSE: MANU), the world’s second most valuable football club, is making waves in the headlines as rumors circulate about potential investments from prominent investors based in Qatar and Saudi Arabia.
The club, known for its rich history and massive global fanbase, has been consistently in talks in recent months for what could be the largest football club acquisition ever.
On Monday, June 12, shares of Manchester United spiked around 4% after reports from Qatar indicated that Sheikh Jassim bin Hamad al-Thani is allegedly going to be announced as the preferred bidder of the English football club.
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#إنفوجراف_الوطن..
— جريدة الوطن (@al_watanQatar) June 12, 2023
تقارير صحفية:
نجاح صفقة استحواذ الشيخ جاسم بن حمد بن جاسم على #مانشستر_يونايتد.. وإعلان الصفقة قريبا#جريدة_الوطن_القطرية #الدوحة #قطر pic.twitter.com/3ZEpxmbdYO
Furthermore, the football club’s stock skyrocketed by nearly 20% in after-hours trading. This means that MANU could potentially add a whopping $650 million to its market cap at the opening bell on the New York Stock Exchange (NYSE) on Tuesday, June 13, and potentially hit $3.9 billion in stock market valuation.
What did the Qatari report say?
The story about a potential takeover of Manchester United was reported by Al-Watan, a newspaper owned by Hamad bin Jassim bin Jaber al-Thani.
The outlet also shared the news on Twitter, with a headline: “The success of Sheikh Jassim bin Hamad bin Jassim’s acquisition,” adding the deal is set to be announced soon.
Al-Watan editor Fahad al-Emadi retweeted a post with a similar announcement.
“Agreement has been reached between Sheikh Jassim and Manchester United announcement will be in soon, and Qatar will be the new owner of Manchester United.”
Earlier this month, reports said that Sheikh Jassim has submitted his fifth and final bid of around $6.3 billion to acquire total control of the 20-time Premier League winner. According to Forbes, Manchester United is currently worth around $6 billion.
If the reports are true, it would mark the end of seven months of negotiations and the club’s links to various prominent investors, including British billionaire Jim Ratcliffe.
Stock price analysis
At press time, shares of Manchester United stood at $20.13, up 3.98% in the past 24 hours. In the premarket, the stock was changing hands at $23.92, up around 19% ahead of Tuesday’s market open.
MANU rose 9.4% in the past month, though nearly half of those gains came from yesterday’s reports. Year-to-date, the stock remains down 14.08%.
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