Manchester United shares have surged nearly 5 per cent today on weekend newspaper speculation that the football club may become the subject of a takeover.
The club yesterday issued statement to the London stock exchange dismissing a report in the Observerthat claimed three billionaires were poised to make seperate bids for the club.
"The board of Manchester United Plc notes weekend press reports about potential bidders for the company," the club said. "The board wishes to make it clear that it has had no approaches from any parties and therefore regards the reports as pure speculation."
Shares in the club jumped 8.5 pence to 176.5 pence sterling within minutes of the market opening before softening slightly to 175.75 pence by 1 p.m.