Manchester United have seen their share price rise by £334 million in a single day, as Qatari investors prepare a £5 billion takeover attempt for the club.
As the deadline for the submission of takeover offers approaches, this interest has had a significant impact on the share price of the Red Devils.
Formerly, the price per share was £19.87, but following the increase, it is now £20.35, a gain of more than 3%.
According to sports finance specialist Kieran Maguire, the rise is greater than what PIF spent to acquire Newcastle from Mike Ashley.
Bloomberg reports that the Qataris want to submit their $5 billion offer for the club before the Glazers’ own self-imposed deadline of Friday night at 10 p.m.
The Qatari investor group apparently had interest in purchasing Liverpool but after failing to do so, they have now focused only on owning Manchester United.
The unsuccessful bid to purchase rivals Liverpool was reported by Qatar-based journalist Mohammed Al-Kaabi.
In an effort to match the millions spent by Manchester City and Chelsea in the summer transfer window, both clubs are actively seeking new owners.
At Anfield, the Qataris had intended to completely unseat John W. Henry’s Fenway Sports Group.
The US owners of Liverpool apparently won’t cede majority ownership in any deal, though.
The Qataris, who reportedly desire much more than a small ownership position in any club, are upset by this.
And it’s believed that they are now concentrated on a full takeover at United.
CBS also notes that no firm offer was made, and that Qataris and Liverpool never reached advanced negotiations.
However, any United bid will probably fall short of the Glazers’ estimation.
The Glazers want to sell United completely for almost £6 billion.
Nevertheless, because to worries about Qatar’s connections to Paris Saint-Germain, Uefa was asked today to reject any offer from the Middle Eastern nation.
The regulatory body of European football is rumored to not reject a Qatari bid, nonetheless.
The same owners cannot have authority over two clubs participating in the same competition. If so, PSG or Manchester United would both be forced to miss the Champions League.
It’s unclear whether the potential buyers of Manchester United are connected to Qatar Sports Investments, the PSG owners.
While Man City is under UAE administration, Newcastle is owned by Saudi Arabia.
According to The Telegraph, a Saudi Arabian bid is about to be made.
Any new owners will need to spend at least as much as Chelsea’s US investors, who invested £600 million, and Todd Boehly is willing to spend even more for a new striker this summer.
Since hearing that the Glazers were willing to sell the club, Ratcliffe has been considering making the purchase.
The owner of OCG Nice is a fan of Manchester United, but according to a report in The Times, he will have a difficult time unseating the Qataris as the club’s new owners.
The group’s “wealth and a desire for their first Premier League acquisition to be United” are the reasons behind this.
When the Glazers first indicated a desire to sell, tech titans Apple and Spanish billionaire Amancio Ortega were both cited as potential buyers; however, Ortega has since distanced himself from a proposal.
The New York investment bank Raine has been hired to handle the club’s sale.
According to The Times, the bank is “confident” it can be finished in the upcoming six weeks.
Manchester United FC
Manchester United Football Club, also known as Man United, Man Utd, or simply United, is an English professional football team with their home stadium located in Old Trafford, Greater Manchester.
The Premier League, the top tier of the English football league system, is where the team participates.
It was established in 1878 as Newton Heath LYR Football Club and was given the nickname “the Red Devils.” In 1902, it changed its name to Manchester United.
The club initially played at Clayton, Manchester, before relocating to Old Trafford in 1910.
Manchester United has records for the most League titles (20), FA Cups (12), League Cups (5), and FA Community Shields (21) ever won.
They have also won the UEFA Europa League, UEFA Cup Winners’ Cup, UEFA Super Cup, Intercontinental Cup, and FIFA Club World Cup once each. They have also won the European Cup/UEFA Champions League three times.
