Sheikh Jassim’s bid for Manchester United has been reported as successful, according to reports from local Qatari media.
Shares in the club on the New York Stock Exchange rose to their highest price in a month, rising from $19.20 a share on Monday morning to a peak of $20.14 by the close of the day.
To put it in perspective, the shares were introduced at $18 at the beginning of the month, the lowest in the year.
The spike in value came after Qatari led-reports hae declared Sheikh Jassim is in the driving seat to take over, though neither parties involved have officially confirmed.
On Monday evening, the Qatar-based Al Watan newspaper reported that an announcement to confirm Sheikh Jassim as the new owner of the Premier League club is now “imminent” following his fifth and final bid.
Sheikh Jassim’s offer bears a unique proposition to obliterate the club’s debt wihch currently stands at £536 million.
Reports suggest Sheikh Jassim has offered around $6bn for full ownership of the club.
“The success of Sheikh Jassim bin Hamad bin Jassim’s acquisition of Manchester United and the announcement of the deal soon,” the Qatari publication tweeted.
Al Watan’s Editorial Director, Fahed Al Emadi, endorsed the claim, noting, “All the news received indicates the success of Sheikh Jassim bin Hamad bin Jassim’s acquisition of Manchester United, and the announcement of the deal will be very soon.”
It is unclear when such a move would be announced, however with the summer transfer window officially opening on Wednesday for all clubs in England and Scotland, a decision on the matter is likely.
An announced deal would allow coach Erik Ten Hag to have a transparent budget to sign footballers for the summer.
The proposed takeover of Manchester United has been in conversation since November last year, with official bids being offered in February 2023.