MANCHESTER UNITED’s share price soared by £334million in a DAY as Qatar investors plan a £5billion bid for the club.
This interest has had a huge effect on the Red Devils’ share price as a deadline for takeover bids is reached.
APThe Glazers are set to receive bids to buy Manchester United[/caption]
ReutersA group of Qatari investors are set to bid £5billion for the club[/caption]
GettyEmir of Qatar Sheikh Tamim bin Hamad al-Thani is at the head of the Qatari group[/caption]
The price had been £19.87 per share, but after the jump the price has risen to £20.35 per share, an increase of over three per cent.
The increase is more than what was paid by PIF to take Newcastle off the hands of Mike Ashley, according to football finance expert Kieran Maguire.
The Qataris are set to lodge their £5bn bid for the club ahead the Glazers’ self-imposed deadline of 10pm on Friday, according to Bloomberg.
They will have to compete with interest from Saudi Arabia, the USA as well as from United supporter and billionaire Sir Jim Ratcliffe.
The Qatar investor group had reportedly been interested in buying Liverpool but after failure, have reportedly put all their focus on acquiring the Red Devils.
The failed bid to buy rivals Liverpool was reported by Qatar-based journalist Mohammed Al-Kaabi.
Both clubs are on the market as they look to compete with Manchester City and Chelsea’s millions in the summer transfer window.
The Qataris had hoped to take full control from 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 any sale.
This goes against the wishes of the Qataris, who apparently want much more than a minority stake in any club.
And it’s reckoned they are now focused on a complete takeover at United instead.
Meanwhile, CBS adds that the Qataris and Liverpool never reached advanced negotiations and no concrete bid was made.
And any offer made for United is likely to come under the Glazers’ valuation.
The Glazers are hoping for a full sale of United for around £6billion.
But Uefa were today urged to block any offer from the Middle Eastern country due to concerns over Qatar’s ties to Paris Saint-Germain.
However, it’s reckoned European football’s governing body will not KO a bid from Qatar.
Two clubs competing 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 of the Champions League.
It’s not clear if the group interested in buying Manchester United have any link with Qatar Sports Investments, the owners of PSG.
Investors from Qatar would join Arab compatriots like Saudi Arabia and the UAE in splashing the cash in the Premier League.
Newcastle have Saudi owners while Man City are controlled by the UAE.
The Telegraph report that a Saudi Arabian bid is imminent.
Any new owners will have to go some way to match the £600million spent by Chelsea’s American backers, with Todd Boehly prepared to find even more for a new striker this summer.
Ratcliffe has been interested in buying the club since news that the Glazers were willing to part with it.
The OCG Nice owner is a Man United supporter, however The Times report suggests that he faces a big challenge beating the Qataris to being the new owner of the club.
This is because of the group’s “resources and a desire for their first Premier League acquisition to be United”.
Tech giants Apple and Spanish billionaire Amancio Ortega have also previously been mentioned as contenders when the Glazers first expressed a willingness to sell, although the latter has distanced himself from a bid.
Raine, the New York investment bank, have been enlisted to deal with the sale of the club.
And the bank is “confident” it can be completed in the next six weeks, according to The Times.
AFP or licensorsSir Jim Ratcliffe is another potential owner of the club[/caption] Read More