Manchester United’s share price has been sent soaring amid reports Qatari investors are set to bid for the club, reports Wall Street.
The Mail reported last night that a group of wealthy businessmen in Qatar plan to submit a formal offer for the club within the coming days.
The identity of the investors is yet to be confirmed, however, it is not the QSI group which own Paris Saint-Germain.
The speculation is already making an impact on Manchester United’s share price, which has been sent rising.
READ: Confirmed Manchester United transfers in, out, loan deals for January 2023
Manchester United share price
Wall Street reports that Manchester United’s share price ‘traded up almost 18% Wednesday morning’.
Bloomberg state this is the share price’s biggest one-day gain since November, when it was announced the Glazers were open to selling the club.
The report speculates United could be sold for a figure above £4.5 billion, with The Mail claiming it could reach £6 billion.
Manchester United’s sale is being overseen by The Raine Group, who oversaw the takeover of Chelsea last year.
A rival bidder is expected to be British businessman Sir Jim Ratcliffe and his Ineos group, who expressed an intent to bid last month.
Takeover talk was expected to ramp up this month. Manchester United would ideally like new owners to be installed at the club ahead of the summer transfer window.
Spending was on hold in January, with United reliant on loan deals to supplement the squad.
Erik ten Hag said last year he would welcome new ownership, with investment required to compete at the top of English and European football.