: Manchester United stock heads for nearly three-month high as excitement builds around Qatari bid

Manchester United Ltd.’s stock MANU rallied another 2.3% Wednesday to put it on track for a nearly three-month high, buoyed by a report that Qatar’s Sheikh Jassim bin Hamad al-Thani is set to be announced as the preferred bidder. The report came Monday from Qatar’s Al-Watan newspaper. Sheikh Jassim has been battling British billionaire Sir Jim Ratcliffe for control of the club after the controlling Glazer family said they would consider selling. Manchester United declined to comment on this story. MarketWatch has learned that Sheikh Jassim submitted his fifth and final bid for Manchester United last week. As before, the bid is for 100% of the club, would clear Manchester United’s debt and has separate additional funding purely for the club’s ongoing player, infrastructure and other investment needs. The U.S.-listed stock has gained 116% in the last 12 months, while the S&P 500 SPX has gained 17%.

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