Manchester United PLC MANU shares are rising in Tuesday’s after-hours session following reports Qatari investors would make a bid for the football club within days.
What To Know: According to a Daily Mail report, Manchester United was expected to receive a “massive offer” from Qatari investors as soon as this week.
The report indicated sources said a group of “private, high-wealth individuals” in Qatar were interested in purchasing the football club, which they viewed as one of “football’s crown jewels.”
The Glazer family, which currently owns the club, set a deadline for bids sometime around the middle of the month, so details of the bid were expected to surface soon. The bidders were reportedly confident that their bid would “blow the competition out of the water.”
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In November, Manchester United’s board commenced a process to explore strategic alternatives for the club designed to enhance the club’s future growth.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future,” Avram Glazer and Joel Glazer, executive co-chairmen and directors of Manchester United, said at the time.
The news came shortly after the club parted ways with superstar Cristiano Ronaldo on “mutual consent.” He scored 145 goals in 346 appearances with the team.
MANU Price Action: Manchester United shares are up 6.30% in after-hours at $21.12 at the time of writing, according to Benzinga Pro.
Photo: nmoodley from Pixabay.
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