Shares of English Premier League heavyweight Manchester United (NYSE:MANU) continue to trend upwards today after reports that its current owner- the Glazer Family is looking to sell the club for £3.75 billion, that is, $4.32 billion.
The development comes after earlier reports that the current owners were not looking to hand over control of the club. Nonetheless, initial talks on potential new investors have been held and a price tag of around $4.3 billion has been set for a complete takeover.
While fans have continued to protest against the current ownership since the beginning of the new season, the Mirror reports Sir Jim Ratcliffe and Dubai as potential new suitors.
The Glazer Family had acquired Manchester United in 2005 for £790 million.
Is MANU a Good Buy?
Jefferies’ Randal Konik, the lone analyst tracking MANU, has reiterated a Buy rating on the stock with a price target of $17 which implies a 16.04% potential upside.
Additionally, our data indicate the number of investor portfolios on TipRanks holding MANU stock has surged by 13.5% in the past 30 days alone. This indicates a very positive investor sentiment about MANU.
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