Manchester United’s share price shot up in premarket trading Friday following a report that the Qatar Investment Authority was planning to bid for the famous soccer club.
The Daily Mail reported that Qatar’s bid to host the World Cup “will blow away” other offers because it comes from Qatari investors.
The report was unsourced, but it helped Manchester United shares jump by 18% in early action. The club’s market cap as of Tuesday was $3.5 billion; this new story said the controlling Glazer family seeks around £6 billion ($7.3 billon).
