Manchester United’s stock value takes a nosedive amid uncertainty surrounding club’s potential sale

Manchester United experienced a significant decrease in their valuation on the New York Stock Exchange, losing over $700 million. This followed reports that the club’s owners, the Glazer family, had decided to withdraw their plans to sell the team. The market capitalization of the group fell by 18.22 percent in just one day, marking the largest drop since its initial public offering in 2012.

According to sources from the British press, British billionaire Jim Ratcliffe, founder of the chemicals company INEOS, and Qatari banker Sheikh Jassim Bin Hamad Al Thani, both presented offers valuing Manchester United at approximately five billion pounds or $6.3 billion. However, the Glazers, who possess about two-thirds of the club’s capital and almost all of the voting rights, were unable to secure a deal that met their desired asking price.

As a result, Manchester United’s market capitalization now stands at $3.15 billion, less than half of the original asking price of $7.5 billion set by the Glazers. Despite this setback, discussions are said to be ongoing with potential buyers, as reported by football website 90min, citing anonymous sources close to both the Glazers and the interested parties.

The Glazer family began acquiring Manchester United gradually between 2003 and 2005 under the ownership of US entrepreneur Malcolm Glazer. Following his passing in 2014, his six children inherited his shares. In November 2022, they announced their consideration of selling the three-time Champions League-winning club.

Unpopularity surrounds the Glazers among United’s supporters, who criticize the family for burdening the club with debt during their takeover and for failing to provide sufficient investments to maintain competitiveness.

[Link to related tweet on Twitter: September 6, 2023]