Man Utd share price sky-rockets following Qatari takeover reports

Manchester United's share price has sky-rocketed following claims that Qatari banker Sheikh Jassim bin Hamad al Thani has had a bid for the Premier League club accepted.

Reports originating from Qatar claimed on Monday night that Sheikh Jassim has been successful with his fifth and final offer for United.

The bid, submitted through his Nine Two Foundation, is understood to be worth around $6.5bn (£5.2bn), while $1bn (around £800m) of additional investment in the club has also been pledged.

The rumours of the successful bid involved senior officials at Qatari media organisations linked to the family of Sheikh Jassim, according to the BBC.

It is claimed that sources involved in the takeover process have played down the accuracy of the reports.

Nevertheless, they have had a major impact on United's share price on the New York Stock Exchange.

Shares in the club jumped nearly 25 per cent in pre-market trading on Tuesday following the reports, at one point reaching $26.20 (£20.85).

The share price has since retreated to $24.30 (£19.33).

The BBC’s economics editor Faisal Islam believes the price could surpass $30 (£23.87) in the event of a successful takeover by Sheikh Jassim.