Manchester United bonds have hit a record high amid speculation of a possible £1.6 Billion takeover by Qatar Holdings. The Glazer Family are still said to be looking for a higher offer for the world’s largest sporting entity, and have reportedly asked the Qatar Family to equal their valuation of £1.8 Billion for their majority stake in The Red Devils…
According to Bloomberg, traders on the London Stock Exchange believe that a buyout at United could take place soon. Qatar Holdings – a branch of the Qatar Investment Authority, valued at £40 Billion – are rumoured to be close to a deal with the club’s owners, The Glazer Family. The club’s high-yield bonds have hit record highs over the past number of days with the talk of a possible buyout, which would see the debt-ridden American owners leave Old Trafford.
“So far it appears to just be newspaper speculation. The club has issued repeated denials that its not talking with anyone. The market seems to have reacted to the stories in the press…” Bloomberg’s London editor, Tariq Panja, told United-Latest.Com on Tuesday.
“A lot of investors expect the Qatar deal to happen now,” Jonathan Moore, a London Stock Exchange analyst was quoted as saying this week. “As a result, you would have a stronger owner financially with no real concerns about them taking cash out of the club. Plus, a new owner might decide to take out the bonds, which would mean paying a premium.”
The Green & Gold Campaign, set-up in protest at The Glazers, is still holding strong. Tens of thousands of fans are still displaying their colours in the hope that the highly unpopular owners cut their losses. The Glazers bought the club for close to £800 Million in 2005, and stand to make a major windfall if the club is sold for a touted £1.6 Billion.
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