Manchester United stock jumps on report sale may be announced next month

Manchester United (NYSE:MANU) rose 10% in after hours trading on a report that a £6 billion sale to Qatar’s Sheikh Jassim may be announced as early as next month.

Sheikh Jassim’s team is completing its due diligence on the famed soccer club, according to a report in The Sun on Tuesday. The takeover is expected to be finalized by mid-October.

The latest item comes after a report on Friday from the Manchester Evening News that the Qatari buyer appears concerned that Glazers won’t sell the famed soccer club. Qatari Sheiki is still awaiting a response from the Glazer family to his bid, and there is “real concern” that the Glazers may not sell the Premier League club, according to the report.

Manchester United (MANU) shares jumped almost 15% on Aug. 7 amid reports that Sheikh Jassim was emerging as the buyer of the storied soccer club.