Manchester United’s Share Price Soars After Rumours Of Sheikh Jassim Takeover

Media outlets in Qatar have reported that Sheikh Jassim’s offer for Manchester United has reportedly been successful.

Following the reports, shares of Manchester United have increased in value over the last 24 hours

On the New York Stock Exchange, shares of the club increased to their highest price in a month, going from $19.20 on Monday morning to a high of $22.36 at the time of this writing.

 

For context, the shares were launched at $18 at the beginning of the month.

Although neither of the parties involved have officially confirmed, Qatari led-reports that Sheikh Jassim is poised to take the helm have caused the value to jump.

Following his fifth and last offer, Sheikh Jassim’s confirmation as the new owner of the Premier League team is now “imminent,” according to a Monday evening story in the Qatar-based Al Watan newspaper.

The innovative proposal in Sheikh Jassim’s offer would eliminate the club’s debt, which is currently at £536 million.

According to reports, Sheikh Jassim has made a $6 billion offer for full control of the team.

“The success of Sheikh Jassim bin Hamad bin Jassim’s acquisition of Manchester United and the announcement of the deal soon,” the Qatari media outlet tweeted.

Fahed Al Emadi, the editorial director of Al Watan, concurred. He said that “All the news received indicates the success of Sheikh Jassim bin Hamad bin Jassim’s acquisition of Manchester United, and the announcement of the deal will be very soon.”

The summer transfer season officially opened on Wednesday for all teams in England and Scotland. It is unknown when such a move would be confirmed, but an official decision on the subject is probably coming very soon.