Shares of Manchester United rose by as much as 16% in pre-market trading on Tuesday after Qatari media reported that Sheikh Jassim bin Hamad al-Thani is likely to succeed with his Takeover Bid. Al-Watan newspaper reported that Sheikh Jassim, a son of the country’s former prime minister, is poised to be announced as the preferred bidder for the Premier League soccer club. The Glazer family, Manchester United’s American owners, announced the formal sale process last year. Sheikh Jassim submitted an improved offer of around $6.3bn for total control of Manchester United in June.

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