NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Manchester United shares jump again on Saudi interest

Published 25/11/2022, 16:42
© Reuters
MANU
-

By Sam Boughedda 

Manchester United plc (NYSE:MANU) shares jumped again on Friday after comments from Saudi Arabia Sports minister Prince Abdulaziz bin Turki Al-Faisal that they want their investors to acquire Manchester United as well as FSG-owned Liverpool.

Speaking to Sky News, the Saudi Arabia sports minister said he hoped both clubs would be able to fall under Saudi ownership. "I hope so, if there are investors and the numbers add up, and it makes a good business," he said, adding that the private sector could come in, or companies could come in.

The comments resulted in a more than 16% rise in Manchester United shares after a 14% jump on Tuesday and a 25% increase on Wednesday.

Fellow Premier League club Newcastle United already has Saudi Arabian owners after it was acquired through the country's Public Investment Fund.

Prince Abdulaziz bin Turki Al-Faisal added that the Premier League is the best and most watched league in the world, with "diehard fans of these teams in the kingdom." He argued that potential Saudi ownership of Manchester United and Liverpool would be "a benefit for everyone."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.