Manchester United Plc shares fell by a record amount on Tuesday after a report in the Mail On Sunday that said the Glazer family is going to take the club off the market after failing to receive offers that match their asking price.
(Bloomberg) — Manchester United Plc shares fell by a record amount on Tuesday after a report in the Mail On Sunday that said the Glazer family is going to take the club off the market after failing to receive offers that match their asking price.
Shares of the Premier League team dropped 18% Tuesday — the most in its 11 years as a public company — cutting its market cap by about $700 million. Manchester United is now valued at roughly $3.2 billion.
The newspaper cited a source with long-standing close ties to the Glazers as saying the family may try to sell the club again in 2025 when improved conditions could attract more bidders. A spokesperson for Manchester United declined to comment on what they called “rumors and speculation,” when contacted by Bloomberg.
Read more: Manchester United Is More Than a Trophy for UK’s Richest Man
Sheikh Jassim Bin Hamad J.J. Al Thani, a member of Qatar’s royal family, and Ineos head Jim Ratcliffe have made offers to buy Manchester United from the Glazers, who have owned the club since 2005.
–With assistance from David Hellier and Joe Easton.
(Updates stock move and chart.)
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