Manchester United’s share price surge may be an indication that Sheikh Jassim is overtaking Sir Jim Ratcliffe as the frontrunner to complete the takeover of the Premier League giants.
At least, that is the view of Faisal Islam; the BBC economics editor who works on the ‘How to Buy a Football Club’ Podcast. Needless to say, given his area of expertise, Islam is well-placed to pass judgement on a saga which – in typical Glazer fashion – continues to rumble on with barely the briefest shred of clarity.
The triumphant memes and ‘Here We Go’s’ with littered the Twittersphere on Monday night may have been a little premature – reports from Al-Watan that Sheikh Jassim was on his way to Manchester United seemingly regurgitated from a, let’s say, ‘less than reliable’ source.
But the 30 per cent surge in shares that accompanied such rumours certainly got tongues a-wagging and ITK’s a-speculating.
Had a deal between the Glazers and the Qataris been reached? Was a bright, shiny new era about to begin?
Well, not just yet.
But, according to Islam, a sudden change in United’s share price may be an indication of a Jassim victory, rather than a Ratcliffe one.
Sheikh Jassim to Manchester United latest
“The reason share price is a gauge of the perceived likelihood of a Qatar victory, is Jassim’s bid is for 100 per cent of shares,” Islam explains on Twitter.
“(Jassim) will pay out on the New York listed shares at takeover price.
“Ineos’ bid is believed to be focussed on the Glazer shares alone. (As a result) listed shares won’t immediately benefit.”
Ratcliffe’s bid, per The Times, is rumoured to be for around 60 per cent of Manchester United.
And while Islam insists that his sources are so-far ‘keeping shtoom’, he does suggest that the share price would not have increased to such an extent without last week’s sudden take-it-or-leave it bid from the Jassim camp.
“This morning, I said I felt we were in the endgame and it was heading Qatars way,” Islam adds.
“In after hours trading in New York, Manchester United shares spiked 17 per cent. That is traders betting the Glazers are about to sell to Sheikh Jassim of Qatar.
“Everyone involved keeping tight lipped though.”
CNBC reports that Man United’s shares eventually surged by up to 30 per cent in pre-market trading. The Times, meanwhile, believe that there may be some light at the end of a long and winding tunnel, Jassim and Ratcliffe both determined to get a deal wrapped up with plenty of time remaining in hte transfer window.
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