Man Utd Takeover: Share price SPIKES as Sheikh Jassim speculation hits FEVER PITCH

Graham Shaw

Updated: 13 Jun 2023 10:46 BST
5 min read

It appears a takeover of Man Utd is now closer than ever with speculation hitting fever pitch overnight after the club's share price rocketed.

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Respected BBC Economics Editor Faisal Islam put United's long-suffering fans on red alert with a string of updates as the battle for power at Old Trafford (apparently) enters the home straight.

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Islam made his feelings clear on Monday that a deal appears close - with Qatar in the shape of Sheikh Jassim about to win the day in the race with British billionaire Sir Jim Ratcliffe.

Man Utd share price surge fuels takeover talk

He reported that United's shares rocketed in the hours after trading closed on the New York Stock Exchange - up to $23.60 - an increase of around 17% on the closing figure.

In after hours trading in NY, Manchester united shares spiked 17%… that is traders betting the Glazers are about to sell to Sheikh Jassim of Qatar…. Everyone involved keeping tight lipped though… pic.twitter.com/fufdkaW1F9
— Faisal Islam (@faisalislam) June 12, 2023

Islam went on to say that as of now literally nobody is briefing anything to media, which does give further credence to the view that a conclusion could be close with all focus now on getting a deal over the line.

Earlier in the day Watan - a newspaper linked to Jassim and his family - had also fuelled speculation with an intriguing tweet about the state of negotiations.

#إنفوجراف_الوطن..

تقارير صحفية:
نجاح صفقة استحواذ الشيخ جاسم بن حمد بن جاسم على #مانشستر_يونايتد.. وإعلان الصفقة قريبا#جريدة_الوطن_القطرية #الدوحة #قطر pic.twitter.com/3ZEpxmbdYO
— جريدة الوطن (@al_watanQatar) June 12, 2023

Islam went on to explain why the NYSE is a good barometer of where things are at in the takeover battle - Sheikh Jassim bid has for 100% of the club's shares and he will pay out on NY listed shares at the takeover price. This would mean immediate benefit for shareholders.

Man Utd of course have a huge summer ahead as they bid to build on Erik Ten Hag's first season in charge, one in which he delivered the Carabao Cup, reached the FA Cup final and restored Champions League football to Old Trafford.

The Dutchman is anxious to further upgrade his squad with a string of big-name targets linked with the club - including Tottenham striker Harry Kane, Napoli defender Kim Min-jae and Atalanta hitman Rasmus Hojlund among others.

Any transfer activity though is likely to be limited until that takeover is finally completed with the Glazers unlikely to sanction a major outlay with a sale imminent.

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