The club’s share price surged after Qatari media reported a successful bid for Manchester United.
Qatari media outlet Al-Watan reported on Wednesday that Sheikh Jassim bin Jaber Al Thani, the chairman of Qatar’s largest bank, had made a successful bid for Manchester United. However, the media outlet is owned by Sheikh Jassim’s father, so the veracity of the report is open to question.
The media also reported that the deal was imminent, saying, “After successful talks, an announcement from Sheikh Jassim is expected to arrive soon.”
Sheikh Jassim had been in competition with the Innosys Group, controlled by Britain’s richest man, Sir Jim Ratcliffe, to buy the club. Initially, the tide seemed to be turning in favor of Innos, with the latter offering to pay the same amount for a 50 percent stake in the club as Sheikh Jassim, who had been talking about a 100 percent takeover.
However, in its final offer, Sheikh Jassim offered around £5 billion for a 100% stake in the club. He also promised to cancel all of United’s current debt.
The deal is coming to an end after a seven-month saga that began last November. The bidding war began in November when the Glazer family, which owns the club, announced 안전놀이터 it was up for sale.
The news sent United’s share price soaring. Shares of United stock, which are listed on the New York Stock Exchange, opened at $19.36 and closed at $20.13 on Wednesday, up 3.98%. In after-hours trading, it jumped another 17.09% to $23.57. That’s a 21.75% jump in one day.
“The surge in United’s share price suggests bets are being placed that Glazer will be sold to Qatar’s Sheikh Jassim,” the BBC reported.
Reports have suggested that Nasser Al-Khelaifi of the Qatar Investment Authority, which owns PSG, is involved in the offer, though he has denied this.
Nevertheless, the power of Qatari capital has been demonstrated again, with the picture emerging of yet another Qatari bid for a European big club.