Manchester United’s share price has undergone a significant spike on the New York Stock Exchange, a potential indicator that the club’s takeover saga is nearing an end. The Glazers will reportedly make their chosen bidder known this week after a seven-month process.
On Monday evening, United’s share price shot up to $23.67, an astonishing rise of over $3 in the space of an hour and its highest value since March.
Reports claim that Sheikh Jassim bin Hamad Al Thani is growing in the belief that he will succeed in his bid to complete a full takeover.
It’s said that figures in Qatar were previously ready to concede defeat to British billionaire Sir Jim Ratcliffe’s INEOS party, who have offered the Glazers a minority stake to remain at the club.
However, Sheikh Jassim’s fifth improved offer forced a breakthrough with the American family and the Raine Group, sparking confidence that they are ‘in the game’.
Intensifying confidence that the Glazers’ departure under new ownership is on the horizon has inspired the meteoric share price shift.
United fans have grown frustrated with the lack of progress and clarity throughout the takeover saga, which started in November.
Erik ten Hag will also be desperate for a nearby resolution, with the summer transfer window looming large.
There is uncertainty over the Dutchman’s budget ahead of another crucial period in his project at Old Trafford.
But there is a great sense of anticipation about significant news in the coming days, with some murmurs in Qatar claiming Sheikh Jassim has been successful.
Many supporters have sided with Sheikh Jassim, who has reportedly pledged around £5bn for full control of the club and an extra £1bn to invest in the redevelopment of Old Trafford and Carrington.
And Ratcliffe’s plan to initially own just 60 per cent of the club, allowing the Glazers to stay put in a lesser capacity, is an instant turn-off.
Abu Dhabi ownership has made Manchester City the dominant force in Manchester in the last decade, epitomised by this season’s treble success.
So it comes as little surprise that a growing belief of Sheikh Jassim’s victory in the takeover race has led to the share price undergoing a major spike.
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