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Manchester United (NYSE:MANU) could receive a takeover bid from a Qatari investment group within days, according to reports from U.K. tabloids Wednesday.
MANU stock jumped +13.5% in premarket trading following the speculation.
The Glazer family, which also owns the Tampa Bay Buccaneers, has said it is exploring strategic alternatives, but an outright sale looks most likely. Price tag speculation is more than $6B for one of the world’s most famous soccer teams.
The Qatari group would also be willing to back current manager Erik ten Hag with a large pool of cash to buy new players, the Daily Mail said. But while fans have consistently protested the Glazer ownership and the family’s transfer of debt onto the club, the controversy (on display over the World Cup) over Qatar’s human rights record could bring more backlash.
Another Middle East acquisition would also raise eyebrows after local rivals Manchester City faced charges this week of years of violation of financial fair play rules.
New owners would not only be expected to inject cash for transfers but to renovate famed stadium Old Trafford, which has fallen into disrepair under the Glazer ownership, with facilities lagging behind that of Premier League rivals.
Manchester United supporter Jim Ratcliffe’s chemical company INEOS has also put in a bid for United.