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Manchester United share price rises, as Elon Musk clarifies acquisition comment

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The shares of Premier League football club, Manchester United, rose by 5.26% at pre-market after world’s richest man, Elon Musk, disclosed that he plans to acquire the Old Trafford side.

Musk, has clarified his statement that he plans to buy Premier League football club, Manchester United, on Tuesday, during a rant on social media platform, Twitter.

Ripples Nigeria had reported that Musk said he would acquire Manchester United, “I’m buying Manchester United ur welcome”, he tweeted on Tuesday.

Following his disclosure, Manchester United’s stock price on the New York Stock Exchange rose to $13.38 on Wednesday’s pre-market, as high demand among investors saw the value rise from the previous closing price of $12.77.

However, the share depreciated after trading resumed, as Musk clarified that his tweet was a long-running joke on Twitter, and he doesn’t have any plan to acquire the English club.

Manchester United’s stock fell to $12.78 per share, as at the time of filing this report, but its still above the $12.77 it closed trading with a day before.

Explaining the reason for making the comment, Musk said the tweet is part of a “long-running joke on Twitter.”, the billionaire further stated that, “I’m not buying any sports teams.”

Read also:Elon Musk eyes Nigerian market for electric vehicle raw materials, govt gives counter offer

But the Tesla Chief Executive Officer said if there was any sport team he did love to buy, it would be Manchester United, as he had been a fan since his childhood.

“Although, if it were any team, it would be Man U. They were my fav team as a kid.” He wrote

Note that Musk had also previously joked about acquiring Coca-Cola after disclosing he was buying Twitter. The social media deal is yet to be completed, with the billionaire pulling out.

His decision to terminate the acquisition of Twitter has resulted to a lawsuit from the company’s board, in a bid to force the richest man in the world to keep to his contractual agreement.

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