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Manchester United shares surged on growing M&A speculation following a Daily Mail report that Qatari investors are planning to make a bid for the English Premier League club in the coming days.
Shares in the football club jumped as much as 18% in US premarket trading, set for their biggest one-day gain since November. A bid would come from separate, individual Qatari investors who want a full takeover, the Daily Mail reported late Tuesday citing people it didn’t identify. Manchester United representatives didn’t immediately reply to a request for comment.
The iconic club has been at the center of bid chatter since last year, with shares soaring in November on news that its current owners, the Florida-based Glazer family, were mulling a potential sale of the team.
Possible suitors for the club include British billionaire and fan Jim Ratcliffe, while Saudi Arabia’s sports minister Prince Abdulaziz bin Turki Al-Faisal told the BBC last year that its government would support private sector bids for the team, as well as Liverpool FC.
Manchester United’s shares traded 13% higher in the US premarket as of 9:30 a.m. in London, after having fallen over 9% this year up to Tuesday. They surged 64% in 2022.
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