Man United shares upgraded at Deutsche Bank amid rival club deal reports

Deutsche Bank’s comments follow reports of several bidders chasing Chelsea after owner Roman Abramovich put the team up for sale following Russia’s invasion of Ukraine.

After a summer boost from a deal to re-sign superstar Cristiano Ronaldo, Manchester United shares have underperformed as the Glazer family offloaded shares and its players faltered on the pitch.

Manchester United Plc shares jumped after Deutsche Bank said bids for rival Chelsea Football Club highlight upside for the valuation of the storied north England-based team.

“We view Man U as more valuable than Chelsea,” analyst Connor Murphy wrote in a note to clients, adding that Manchester United has outperformed Chelsea on a revenue and operating profit basis over the past three years. The shares rose as much as 6.7% in early trading to $14.02 (€13.08), the biggest intraday gain since August.