Manchester United’s share price leapt nearly 20% in premarket trading on Tuesday after a report hinted that Qatar’s Sheikh Jassim bin Hamad al-Thani is likely to succeed with his takeover bid for the English football club.
Qatar’s Al-Watan newspaper reported on Tuesday evening that Al-Thani, son of a former prime minister of the country, is poised to be announced as the preferred bidder of the Premier League soccer club, said CNBC.
Reuters could not immediately verify the Qatari media report, nor did Manchester United respond to a request for comment.
The UK’s Daily Mail said last week that Al-Thani had made a “fifth and final” offer of more than £5bn after British billionaire Jim Ratcliffe’s Ineos reportedly outbid him in April.
Read also: Why Man Utd may move for Osimhen against next season
New York-listed shares of Manchester United have slumped nearly 14% this year.
The latest “deadline” to finalise Al-Thani’s offer ended on Friday, but no official announcements were made.
The present owners, the American Glazer family, are reportedly seeking £6bn, which would be a world record for any sports club or franchise, but neither bid is that high.
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