MANCHESTER UNITED’s share price rocketed amid news that a Qatar group is poised to bid for the club.
The Glazers revealed in November that they were willing to listen to offers for either a stake in the Premier League giants or an outright purchase.
A number of parties have expressed an interest in buying United, which could be purchased for a world-record price for a sports franchise at close to, or above, £6billion.
Interest comes from the Far East, Middle East and United States with Raines Group, the merchant bank, tasked with the sale.
British billionaire Sir Jim Ratcliffe, who happens to be a Man Utd fan, is also keen.
But according to the Daily Mail, a Qatar-based investment group will make a “huge bid” for United.
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And that sent United’s share price rocketing by the close of play on Tuesday.
They went up 6.30 per cent in after-hours at $21.12 last night, according to Benzinga Pro.
According to this latest update, an offer for United is expected to be made in the coming days ahead of the mid-February deadline set by the Glazers.
The investment group are said to be confident that their bid will blow any competition out of the water.
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The Qataris are also putting fan engagement at the heart of their takeover bid.
They will seek the views of supporters on the future of Old Trafford.
However, a stumbling block that could block a takeover is Qatar Sports Investments’ ownership of PSG.
One entity cannot own two clubs in the same competition — and United and PSG could meet in Europe.
The bid for United would come from separate, individual Qatari investors and there is ZERO interest in taking a partial stake – something the Glazers have been interested in.
French giants Paris Saint-Germain are currently under Qatari ownership, but as we reported previously, they are unable to redevelop the club’s iconic Parc des Princes stadium.
But the potential United makeover could see Old Trafford demolished and completely rebuilt.
Source: Soccer - thesun.co.uk
