Shares of popular English Premier League soccer club Manchester United (NYSE:MANU) are soaring higher today on multiple reports that the storied club could see an acquisition offer from an investment group from Qatar.
The current owner of MANU, the Glazer family, has seen fan protests in the past and has already indicated a look at potential alternatives. A new owner could inject much-needed funds into the club that could translate into new boots on the field. Earlier, the club also received an offer from chemicals producer INEOS.
Overall, Wall Street has a consensus price target of $24.50 on MANU, implying a 16% potential upside in the stock. That’s on top of the nearly 56% gain the stock has delivered over the past year.
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