Skip to content Skip to Search
Skip navigation

Manchester United shares up as Qatar bid tipped to win

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.

Latest articles

Nature, Outdoors, Sea

Luxury hotel revenues in Oman rise to $242m

Oman’s luxury hotels continued to make money in April as the number of guests surged. The revenue of three- to five-star hotels rose 11 percent year on year to OMR93 million ($242 million), the state-run Oman News Agency said, quoting the National Centre for Statistics and Information data. The revenue increase was driven by a […]

The Holy Mosque in Medina, Saudi Arabia. Pilgrims flock to the city as part of Hajj

Tourism businesses on the up in Medina

The number of tourism businesses in Medina was 15 percent higher in the first quarter of 2024 than the same time last year, a boon for Saudi Arabia as it aims to increase the industry’s contribution to the national economy. Madinah Chamber did not supply a breakdown of the figures, but the state-owned Saudi Press […]

A stall holder in the Grand Bazaar in Istanbul. People in Istanbul faced rises in the cost of living this year, as soaring inflation impacted wages

Cairo and Istanbul feel biggest cost of living squeeze

Dubai has become the most expensive city in the Middle East for expatriate workers, while Cairo and Istanbul were among the cities that saw the biggest rise in the cost of living this year, as soaring inflation impacted wages. Dubai, the UAE’s largest city, saw rental prices rise by about a fifth in the last […]

More than 24 million people visited the World Expo event at Expo City Dubai between October 2021 and March 2022

Construction begins at Expo City Dubai site

Construction has begun on the first residential properties at Expo City Dubai, part of a mixed-use master plan to repurpose the legacy site after the world fair came to a close two years ago. Master developer Expo City Dubai announced last week that it has awarded four key contracts for its Mangrove Residences. UAE-based USF […]