Shares of English Premier League club Manchester United (NYSE:MANU) are off to a flying start in the pre-market session today after its Board began the process to look at strategic alternatives for the legendary soccer club.
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This includes an infusion of new funds, a sale, or other transactions. Further, the process will also look at strengthening the club via stadium and infrastructure development, and commercial expansion globally.
Separately, MANU also announced that its star striker Cristiano Ronaldo will leave the club “with immediate effect.” The move comes after a recent interview by the Portuguese star, who has scored 145 goals for MANU, with Piers Morgan.
MANU has been in the midst of a trophy drought and angry fans for a while now. Shares of the company have already rallied ~18% over the last five days as the club’s fans look in anticipation if there will be a change of ownership and at new possible signings in the January transfer window.
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