MANCHESTER UNITED share price rose by £334million in a TAG as Qatari investors plan £5billion bid for the club.
This interest has had a huge impact on the Red Devils’ share price as a takeover bid deadline arrives.
It was priced at £19.87 per share but after the jump the price has risen to £20.35 per share, an increase of over 3 per cent.
According to football finance expert Kieran Maguire, the raise is more than what PIF paid to take Newcastle out of Mike Ashley’s hands.
The Qataris will make their £5bn bid for the club ahead of the Glazers’ self-imposed 10pm deadline on Friday, according to Bloomberg.
They face interest from Saudi Arabia, the US and United supporter and billionaire Sir Jim Ratcliffe.
The Qatari investor group were reportedly interested in buying Liverpool but have reportedly turned their full attention to the Red Devils’ takeover after the failure.
The failed bid to buy rivals Liverpool was reported by a Qatar-based journalist Mohammed Al-Kaabi.
Both clubs are in the market to compete with Manchester City and Chelsea’s millions in the summer transfer window.
The Qataris had hoped to take full control of John W. Henry’s Fenway Sports Group at Anfield.
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However, Liverpool’s American owners have reportedly refused to give up majority control in a sale.
That goes against the wishes of the Qataris, who seem to want much more than a minority stake in any club.
And it’s understood they are now focused on a full takeover of United instead.
In the meantime, CBS adds that the Qatari and Liverpool never got to advanced negotiations and no concrete offer was made.
And any offer for United will likely fall below the Glazers’ valuation.
The Glazers are hoping for a full sale of United for around £6billion.
However, Uefa were today urged to block any offer from the Middle Eastern country amid concerns over Qatar’s links with Paris Saint-Germain.
However, it is understood that European Football Association will not KO a bid from Qatar.
Two clubs participating in the same competition cannot be controlled by the same owners. If they were, one of PSG or Manchester United would have to sit out from the Champions League.
It’s not clear if the group interested in buying Manchester United has any connection with Qatar Sports Investments, the owners of PSG.
Qatari investors would join fellow Arabs like Saudi Arabia and the United Arab Emirates to inject money into the Premier League.
Newcastle has Saudi ownership while Man City is controlled by the UAE.
The Telegraph reports that a bid from Saudi Arabia is imminent.
Each new owner must find a way to match the £600m that Chelsea’s American backers have spent, with Todd Boehly poised to find even more for a new striker this summer.
Ratcliffe has been interested in buying the club since it was revealed the Glazers were ready to part with it.
The OCG Nice owner is a Man United fan but the Times report suggests he faces a tough challenge beating the Qataris to become the club’s new owner.
This is due to the group’s “resources and desire to see their first Premier League acquisition united”.
Tech giants Apple and Spanish billionaire Amancio Ortega were also previously named as competitors when the Glazers first announced their willingness to sell, although the latter has backed down from an offer.
Raine, the New York investment bank, was hired to sell the club.
And the bank is “confident” it can be completed in the next six weeks, according to The Times.
https://www.the-sun.com/sport/7418953/man-utd-share-price-qatar-bid-ratcliffe-saudi/ Man Utd share price rises by £334m as Qatar provide £5bn deadline bid in takeover battle with Ratcliffe and the Saudis