Man Utd see share price rise amid new bids expected

Football
23 Mar 2023 • 2:40 PM MYT
Tribal Football
Tribal Football

Tribal Football covers news from the Premier League, LaLiga and Serie A

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Manchester United's share price rose by around six percent this week due to takeover talks.

There is speculation that major parties will be putting in improved offers to buy the club.

The Glazer family are looking to sell United, while Sir Jim Ratcliffe's INEOS and the Qatari royal family are the two bidders who have gone public with their intentions.

Harry Leyburn of investment platform Saxo, said to the Manchester Evening News: "Manchester United's share price reached $24.02 (19.56) on Tuesday, rising 6 per cent from $22.71 (18.49) at the start of the week.

"Last Monday, the company's stock hit its lowest point in 2023 at $19.72 (16.09), however, in booking a place at Wembley in the FA Cup on the field combined with more speculation around the acquisition of the club off the field has helped boost its price in recent days. Yesterday, it was reported that there could be as many as eight bids officially submitted before Wednesday's 9pm deadline.

"This could see the Glazers receive what would be world record offers if in the ballpark of the reported asking price of 6bn. If the deal were to go through in the upcoming months and ahead of the start of the 2023/2024 season, this could open the floodgates for United to spend heavily in the summer with the 13-time Premier League champions still looking to win their first title in 10 years."