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Shares of U.K. soccer club Manchester United surged in premarket trade after a report of an imminent Qatari bid for the high-profile team.
The Daily Mail reported the bid from Qatar, which hosted the World Cup, will “blow away” other offers. There’s already Qatari ownership of Paris St. Germain, so this bid “would come from separate, individual Qatari investors,” the report said, without identifying them.
The unsourced report helped Manchester United
MANU,
shares jump by 18% in early action. The club’s market cap as of Tuesday was $3.5 billion, but this report said the controlling Glazer family seeks around £6 billion ($7.3 billion).
