Shares of the popular football club, Manchester United (NYSE: MANU) surged in pre-market trading at the time of publishing on Wednesday after a Guardian report that Qatari banker Sheikh Jassim Bin Hamad Al Thani has made a revised offer of $5.5 billion even as final bids for the club were submitted last month.
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After the bids last month, Jim Ratcliffe, the owner of British chemicals giant INEOS Group had appeared to be the frontrunner for the club. The buzz about the potential sale of the club has gone on for months now, after the current American owners, the Glazer family had talked about considering a potential sale of MANU back in November last year.
Multiple reports have stated that the Glazer family has put a valuation of £6 billion on the club.
Today’s price surge aside, MANU stock has slid by more than 16% year-to-date.
