Manchester United’s share price has rocketed amid rumours of a successful Sheikh Jassim takeover of the club.
United’s share price rose to its highest in a month ($23 per share) on Monday and increased further on Tuesday morning to $25 per share, adding almost $1billion to the club’s value.
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Many believe the hike is down to reports that Sheikh Jassim is set to become the new Man United owner.
Rumours on Monday suggested the Qatari banker had won the race for the Red Devils but talkSPORT understands this is premature.
Sheikh Jassim – who has promised to wipe all of United’s debts clean – has been locked in battle with INEOS owner and boyhood United fan Sir Jim Ratcliffe to buy the club.
Speculation has been rife over the future direction of United since the Glazer’s confirmed they would be open to selling the club last November.
Sheikh Jassim and Ratcliffe quickly emerged as the leading bidders but after a long and drawn out process, there has yet to be a resolution.
Ratcliffe appeared to be the frontrunner up until Sheikh Jassim submitted a new and improved bid this week of around £5bn, whilst promising to invest £1bn in the team and surrounding community.
Meanwhile, Ratcliffe’s bid is thought to be worth 60 percent of the club with the option of the Glazer family remaining involved in some capacity.
A section of United fans have made their feelings clear of their wish for the Glazers to sell the club in its entirety.
The American owners became majority stakeholders in 2005 but have endured a fractious relationship with the club’s fans who have opposed their management of the club.
