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Manchester United shares up as Qatar bid tipped to win

By Pramod Kumar
Manchester United Qatar takeover bid Reuters/Craig Brough
Qatar's Sheikh Jassim is likely to be the preferred bidder of the Premier League soccer club, say reports
  • Sheikh Jassim made final offer of $6.28bn
  • Club’s stock risen 53% since Glazer family announced plans to sell

Shares of Manchester United rose 13 percent to hit a two-month high on Tuesday after a news report indicated that Sheikh Jassim bin Hamad Al Thani of Qatar was likely to succeed with his takeover bid for the English football club.

Qatar’s Al-Watan newspaper reported that Sheikh Jassim was likely to be announced as the preferred bidder of the Premier League soccer club.

In a tweet later, Al Watan editorial director Fahed Al Emadi clarified that Hamad Al Thani does not own Al Watan.

He added: “Al Watan’s report speculating possible movement in the Manchester United takeover process was based on international media reports, as stated in the article itself, and with such news widely circulating periodically in international media for many months.”

Sheikh Jassim made a fifth and final offer of over £5 billion ($6.28 billion) after British billionaire Jim Ratcliffe’s Ineos reportedly outbid him in April.

The club’s stock has risen 53 percent since its current owners, the American Glazer family, announced plans to sell it.

The Glazers initially invited bids for United, arguably still the biggest “brand name” in the world’s most popular sport, in November.

Media reports in the UK suggested that the Glazers are seeking £6 billion ($7.5 billion), which would be a world record for any sports club or franchise.

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