- On Tuesday evening, the Qatari newspaper Al-Watan reported that Sheikh Jassim, the son of the country’s former prime minister, is preparing to announce the English Premier League football club’s favorite competitor.
- A Manchester United spokesman could not be reached for comment.
- The reports come after seven months of negotiations, with British billionaire Jim Ratcliffe also in talks to buy the club.
Statue of George Best, Denis Law and Bobby Charlton stands outside Old Trafford, home of Manchester United in Manchester, England.
Mike Hewitt | Getty Images Sport | Getty Images
Manchester United shares rose 30 percent in premarket trading on Tuesday before paring gains after Qatari media suggested Sheikh Jassim bin Hamad Al Thani was likely to succeed in his takeover bid.
On Tuesday evening, the Qatari newspaper Al-Watan reported that Sheikh Jassim, the son of the country’s former prime minister, is preparing to announce the English Premier League football club’s favorite competitor. Al Watan is owned by Hamad bin Jassim bin Jaber Al Thani.
A Manchester United spokesman could not be reached for comment.
Shares of Manchester United, which trades exclusively on the New York Stock Exchange, were up nearly 26% at 4:45 a.m. ET.
The reports come after seven months of negotiations, with British billionaire Jim Ratcliffe also in talks to buy the club.
Al-Watan newspaper’s account on social networking sites via Twitter said, “The success of Sheikh Jassim bin Hamad bin Jassim’s acquisition,” will be announced soon.
Fahad Al-Emadi, editor-in-chief of Al-Watan newspaper, published a similar message.
“All incoming news 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,” he said.
The Glazer family, the American owners of Manchester United, announce The sale formalized late last year, saying in a November 22 statement that the company’s board would begin to explore “strategic alternatives” for the club.
Sheikh Jassim on June 7th was mentioned To make an improved fifth and final bid of around $6.3 billion for full control of Manchester United. Meanwhile, it was Ratcliffe He said They wanted to buy about 60% of the club.
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