Manchester United Ltd (NYSE:MANU) shares are trading higher Wednesday after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk jokingly said he was buying the English football club.  

"Also, I’m buying Manchester United ur welcome," Musk said via tweet Tuesday evening.

A couple hours after the tweet made headlines leading to speculation about a potential acquisition, the Tesla CEO clarified that he was joking. 

Replying to a Silicon Valley Tesla club account, Musk said he wouldn't be buying Manchester United or any other sports club. 

"No, this is a long-running joke on Twitter. I'm not buying any sports teams," Musk said. 

The joke comes as the Tesla CEO battles Twitter Inc (NYSE:TWTR) in court in an effort to back out of his $44 billion deal to buy the social media platform.

If Musk were serious about acquiring Manchester United, it would be a much cheaper investment. Manchester United currently trades with a market cap just above $2 billion, according to Benzinga Pro.

Related Link: Elon Musk Says He's 'Buying Manchester United:' Would It A Better Deal Than Acquiring Twitter?

MANU Price Action: Manchester United has a 52-week high of $15.05 and a 52-week low of $10.41. 

The stock was up 6.26% at $13.58 at time of publication.

Photo: Paul and Tesla Owners Club Belgium on Flickr