Manchester United shares soared on Tuesday on fresh speculation that the soccer club’s owners were moving forward with a sale.
The stock (ticker: MANU), saw its biggest one-day jump since November, closing up 13.8% to $22.90. Shares have surged more than 23.9% in the past three trading days and are up 26.3% in the past month.
Qatari newspaper Al-Watan tweeted Monday night that Qatari banker Sheikh Jassim Bin Hamad Al Thani had won a bid for control of
Manchester United.
Al-Watan reported the news based on unidentified “press reports,” and said the deal would be announced soon.
A spokesperson for Manchester United declined to comment to Barron’s on the club’s possible sale.
Al-Watan’s tweet ignited a media frenzy Monday evening, sparking excitement from fans and prompting a slew of reports from British media outlets.
The Glazer family, the American owners of Manchester United, first announced an interest in selling one of the soccer’s most famous sports teams in November 2022, and shares are up nearly 76% since then.
Jassim submitted his fifth and final bid of roughly $6.3 billion for complete ownership of the club earlier this month, according to media reports. The Glazers have an asking price of $6 billion, according to reports. The Glazers couldn’t immediately be reached for comment.
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