Manchester United’s share price accelerated further on Tuesday after reports from Qatar suggested Sheikh Jassim bin Hamad al-Thani had won the takeover race.
These were later backtracked by the head of the media outlet which broke the speculation but United’s value on the New York Stock Market remained at a lofty level.
At 3pm on Tuesday, prices rose to the highest in a month at $22.96 before ending on a closing price of $22.90, a 13.76 per cent increase from the start of trading hours ($22.33).
United’s share price has rocketed over the past 12 months due to the sale of the club. Shares are up 111 per cent from 15 June 2022 when prices were at $10.82.
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Upon November’s announcement, the valuation leaped by nearly $10 between November 21 and December 2.
The share price over the last year peaked on February 16, the day before the first deadline for bidders, when prices were at $26.84 per share.
Several reports suggest that a decision on the takeover process could be made this week, which is keeping the current share price high.
Fans are calling for the Glazers to make a decision with the summer transfer window opening on Wednesday and Erik ten Hag not certain on how big his budget will be.
It is thought that Sir Jim Ratcliffe is leading the race with his proposal to keep Avram and Joel Glazer as minority shareholders while he takes their 69 per cent majority.
Both frontrunner bidders are waiting to hear from the Glazers after submitting revised bids.
Sheikh Jassim, who wants 100 per cent of United, submitted his latest offer on Wednesday and his interest still remains despite imposing a self-deadline of Friday of its expiry.
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