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(Reuters) – Shares of Manchester United rose 15 percent in pre-market trading on Tuesday after a report suggested Qatar’s Sheikh Jassim bin Hamad Al Thani was likely to succeed in his bid to take over the English club.
The Qatari newspaper, Al-Watan, reported on Tuesday evening that Sheikh Jassim, the son of a former prime minister of the country, is preparing to announce the preferred bidder for the English Premier League football club.
Reuters was not immediately able to verify the Qatari media report. Manchester United declined a Reuters request for comment.
Britain’s Daily Mail said last week that Sheikh Jassim made a “fifth and final” offer of more than 5 billion pounds ($6.28 billion) after British billionaire Jim Ratcliffe was reported to have made an offer to him in April.
New York-listed Manchester United shares rose to $23.07, paring nearly half of their pre-market gains on Tuesday. The stock is up 53% since the club’s owners, the American Glazer family, said in November they were considering selling the club.
No agreement has been reached yet, days after Sheikh Jassim’s “deadline” last week, after which he said he would not enter any further negotiations.
The Glazers are reportedly seeking six billion pounds ($7.5 billion), a world record for any sports club or franchise, but neither bid is that high.