Shares in Manchester United experienced a significant surge in value within the past 24 hours, following reports that Sheikh Jassim bin Hamad Al Thani‘s bid to purchase the club had been successful.
This development could potentially bring an end to Manchester United’s prolonged takeover saga.
According to reports from Qatar’s Al-Watan newspaper, Sheikh Jassim managed to convince the Glazer family to sell the club outright, and he has received the green light to proceed with the takeover.
This news caused shares in the club to rise from $19.20 on Monday morning to a peak of $25.01 by the close of the day, representing a substantial increase of 24.20 percent on the New York Stock Exchange.
Sheikh Jassim, the son of a former Prime Minister of Qatar, has made five bids for the club, including two that were submitted after the deadline set by the Raine Group, which is overseeing the sale.
This week is expected to see the announcement of the takeover decision.
The Glazers and the Raine Group have not made any public statements regarding the completion date of the sale.