Man Utd break NEW RECORD as Glazers refuse to sell

5 Sept 2023 22:34 BST
3 min read

Erik ten Hag, Manchester United — © ProShots/FootballTransfers

Manchester United’s share price has fallen to its lowest amount in history following the Glazers’ U-turn about selling the club.

The current owners of Man Utd put the club up for sale in late 2022, but have not yet agreed a deal to sell the club, despite interest from Sir Jim Ratcliffe and Sheikh Jassim.

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Now, the Red Devils have suffered a punishing day in the stock market and their shares are at an all-time low. Sky Sports News have reported that upon the close of the New York stock exchange on 5 September, Man Utd’s shares are now priced at $19.35.

That is down a record 18.22% in a single day. It is the biggest drop since Man Utd went public in 2012 and means that more than £600 million has been wiped off the club’s market value.

It comes as the Glazers are attempting to raise their asking price for anyone interested in buying the club.

Glazers to sell Man Utd?

Recent reports suggest that the current owners, the Glazers, had made a surprising but not totally unexpected U-turn regarding their willingness to sell.

It was said that they were no longer looking to sell as the two main bidders, Sheikh Jassim and Sir Jim Ratcliffe, had failed to meet their valuation - but what their exact valuation is has never truly been known.

© ProShots - Mason Mount joined Man Utd this summer

However, this change, according to 90min, is due to the recent sale of the Washington Commanders of the NFL, the biggest sale of a sports club in history at £4.8 billion.

The Glazers, as owners of the Tampa Bay Buccaneers, were involved in that process as they, like all NFL club owners, had to approve the sale of the Commanders.

90min writes that a takeover of this magnitude "is believed to have played a part in convincing the Glazers that they should be getting much more than £6bn for United, who are widely regarded as the biggest footballing brand in world football."

The Red Devils are currently 11th in the Premier League after picking up six points from their opening four fixtures.