By Chris King •
Updated: 05 Sep 2023 • 20:21
Image of Manchester United crest.
Credit: Whale Media Stock / Shutterstock.com
UPDATE: Tuesday, September 5 at 8:23 pm
AMID rumours that the Glazer family is considering taking Manchester United off the market, shares in the legendary football club fell by a record amount according to The Sun this Tuesday 5.
In the 11 years that the Old Trafford outfit has been trading on the stock market, it has suffered the worst fall in share prices in its history, the news outlet revealed.
After news broke that the American owners intended to keep the club, at one point, shares dropped by an astounding 21 per cent. This fall in share values saw their asset’s market cap drop by £550m, valuing United at around £3.3bn.
According to a recent report from the Daily Mail, a source claimed that the Glazers hoped to place the club back on the market in the future for at least £10bn.
Sunday, September 3 at 0:52 am
IN a move that is bound to infuriate hardcore fans of the club, Manchester United is reportedly no longer for sale and will be taken off the market.
The bombshell news was announced by the Daily Mail this evening, Saturday, September 2. Citing a source close to the Glazer family, the news outlet said that the Americans had made the decision after potential buyers failed to meet their anticipated asking price.
‘The Glazers are thick-skinned and won’t be influenced by any negative fan reactions’, the source allegedly informed the publication.
Only two serious bidders were left in the final race to take over at Old Trafford. Sheikh Jassim of Qatar and Sir Jim Ratcliffe had beaten off other prospective buyers to enter what ultimately appeared to be a two-horse race.
When they announced that the club was up for sale, the family said it was happy to either sell 100 per cent of it or that they were also open to keeping a part of the business.
Sheikh Jassim was apparently prepared to purchase the club in its entirety whereas Ratcliffe would let the Glazers retain a minority stake in United it was believed.
Earlier this summer there were unconfirmed rumours circulating that the Qatari sheikh was considering pulling out of the sale. Very little information came out of Old Trafford during the time that negotiations for the sale were ongoing.
According to the source, when the family placed the club on the market last November they were anticipating a much higher level of interest in the club than what materialised.
The Glazers will now wait until 2025 said the source, when they will attempt to sell Manchester United for a second time in the hope that more bidders will enter the market.
With the 2026 World Cup scheduled to be played in the United States, the profile of American billionaires as investors in football clubs could be heightened and help to increase the value of the club, indicated the source.
That, coupled with higher television broadcasting rights could in turn allow the family to ask a price of between £7bn and £10bn for United the source added.
Protests have become normal among the United fans, who just last week staged a sit-in protest demanding that a sale be pushed through.
It is quite obvious by now though that the Glazers are oblivious to any anger among the fans and they appear to have placed themselves firmly behind Erik ten Hag now as he attempts to build a new team capable of challenging for top honours again.
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Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news.
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