{"id":9831,"date":"2023-05-17T06:31:38","date_gmt":"2023-05-17T10:31:38","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/manchester-united-stock-jumps-on-improved-sheikh-jassim-offer\/"},"modified":"2023-05-17T06:31:39","modified_gmt":"2023-05-17T10:31:39","slug":"manchester-united-stock-jumps-on-improved-sheikh-jassim-offer","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9831","title":{"rendered":"Manchester United stock jumps on improved Sheikh Jassim offer"},"content":{"rendered":"
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Manchester United\u2019s stock rose in after-hours trade Tuesday following the latest development in the takeover battle for the iconic English football club. <\/p>\n

MarketWatch understands that Sheikh Jassim Bin Hamad Al Thani has made an improved bid for Manchester United. As before, the bid is for 100% of the club, will clear Manchester United\u2019s debt and includes a separate fund directed solely at the club and community.<\/p>\n

\n

Shares of operator Manchester United Ltd.
\n MANU,
\n +0.64%<\/bg-quote>
\n rose nearly 5% in extended trading after ending Tuesday\u2019s session up 0.6%, compared with the S&P 500 index\u2019s
\n SPX,
\n -0.64%<\/bg-quote>
\n decline of 0.6%.<\/p>\n

Sheikh Jassim is the chair of Qatar Islamic Bank and the son of a past prime minister of Qatar.\u00a0He is\u00a0bidding\u00a0for the club through his Nine Two Foundation, which was named in an apparent nod to Manchester United\u2019s \u201cClass of \u201992\u201d FA Youth Cup-winning team, which included future stars David Beckham, Ryan Giggs, Paul Scholes, Gary Neville, Phil Neville and Nicky Butt.<\/p>\n

Rival bidder Sir Jim Ratcliffe is the chief executive of the chemical giant Ineos. The British billionaire\u2019s sporting links are strong: Ratcliffe, who ranks 27th\u00a0on the\u00a0Sunday Times Rich List, already owns the French Ligue 1 soccer club OGC Nice and the Ineos Grenadiers professional cycling team.<\/p>\n

Related: Manchester United stock jumps after report of \u2018world record bid\u2019 for the club<\/strong><\/p>\n

Sky Sports has\u00a0reported<\/a>\u00a0that the American Glazer family that owns Manchester United is looking for $7.4 billion for the famous club, which had a calculated value of $4.6 billion in 2022, according to\u00a0Forbes.\u00a0<\/p>\n

The Glazers took control\u00a0of Manchester United in 2005. In November, they\u00a0confirmed\u00a0they were exploring potential financial investment or an outright sale of the Premier League club.<\/p>\n

The BBC reported that one of Ratcliffe\u2019s suggestions has been to lower his bid for the Glazers\u2019 69% shareholding to just over 50%, allowing the current owners to retain some involvement in the club.<\/p>\n

MarketWatch has reached out to Ineos and Manchester United with requests for comment on this story.<\/p>\n

Related:\u00a0Billionaire Jim Ratcliffe meets with Manchester United for sale talks<\/strong><\/p>\n

The Glazers have come under intense pressure to sell Manchester United amid ongoing fan frustration over what is seen as underperformance. The club, one of the biggest names in world soccer, last won the Premier League in 2013. In 2021, the Glazers faced major backlash from fans over\u00a0planned involvement in the controversial European Super League.<\/p>\n

The club did clinch its first silverware in six years earlier this year, with a 2-0 defeat of Newcastle United in the League Cup final.<\/p>\n

Manchester United is the most successful team in the English top division, which it has won 20 times. A record 13 of those titles have come in the Premier League era, which began in 1992. Founded as Newton Heath in 1878, the club became Manchester United in 1902 and won the first of its 20 league titles six years later.<\/p>\n<\/p><\/div>\n<\/div>\n