Manchester United's share price has risen by six per cent ahead of the deadline for takeover bids today.
Last week the price dropped to its lowest point of the year as reports surfaced that the Glazers were perhaps having second thoughts about selling the Reds. However, since then, the markets have reacted positively to matters both on and off the pitch.
Representatives from both the Qatari team led by Sheikh Jassim and the bid from Sir Jim Ratcliffe visited Old Trafford last week to have discussions with club officials. Then, on Sunday, United reached the semi-finals of the FA Cup thanks to a comeback 3-1 victory over Fulham at Old Trafford.
ALSO READ: United takeover state of play
Those factors combined are believed to have boosted the share price. Discussing the news regarding United's value rising, Harry Leyburn of investment platform Saxo, said: "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."
READ NEXT:
