What's Going On With Manchester United Stock?

Manchester United Ltd MANU shares are trading higher Monday. New reports indicate the company is preparing to announce a sale.

What To Know: Manchester United's board commenced a process to explore strategic alternatives for the club designed to enhance future growth last November. The company's owners have been reviewing offers from multiple potential buyers for over eight months now.

There have been several reports along the way about negotiation developments. Last week, a report suggested the company was convinced a deal would be completed soon. 

According to new reports, Cardiff City chairman Mehmet Dalman further suggested a takeover deal will be announced soon. 

"Manchester United are going to announce their sale at £7.2bn-7.3bn, which is roughly 10 times their revenue,” Dalman reportedly said. 

The reports from last week, which said discussions have taken a "big leap forward in recent weeks," suggested Sheikh Jassim bin Hamad Al Thani was preparing to submit a final formal offer closer to £6 billion. 

Nothing has been officially announced, but reports continue to suggest an official deal could be inked in the coming months.

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MANU Price Action: Manchester United shares were up 3.67% at $23.72 at the time of publication, according to Benzinga Pro.

Photo: nmoodley from Pixabay.