The recent developments regarding Manchester United’s shares and potential sale are significant in the context of the club’s ownership and financial situation. Here’s a summary of the key points from the information provided:
Share Price Fall: Manchester United’s shares experienced their largest one-day decline ever, dropping by more than 18% in New York on a Tuesday. This sharp decline in share price came following a report in the Mail on Sunday.
Glazer Family Ownership: The Glazer family, who are based in the United States, has owned Manchester United since 2005. In November, they announced that they were considering selling the club and were exploring “strategic alternatives.”
Asking Price: According to the Mail on Sunday, the Glazer family is seeking an offer of £10 billion for the club. However, no potential buyer had reportedly come close to matching this asking price.
Prospective Bidders: The report mentioned that prospective bidders, including Sheikh Jassim of Qatar and British billionaire Sir Jim Ratcliffe, had not made offers close to the £10 billion mark.
Future Sales Attempt: It was suggested that the Glazer family might attempt to sell the team again in the future, potentially next year, in the hopes of attracting more bidders.
Share Price Impact: The 18% decline in share price resulted in approximately $700 million being wiped off Manchester United’s stock market valuation.
Ownership Criticism: The Glazer family’s ownership of Manchester United has faced criticism from some fans who accuse them of burdening the club with debt and not investing enough in it. The 1958 Group, composed of fans who want the Glazers to sell the club, has also organized protests to voice their opposition.
Financial Transactions: Since the Glazer family’s takeover, Manchester United have spent over £1 billion on interest, loan payments, and share dividends, with the majority of those dividends going to the Glazers. The club has also invested significant funds in player transfers during their ownership.
It’s important to note that the situation may have evolved since the last update in September 2021. Any further developments or changes in ownership would require up-to-date information from reliable sources.