Manchester United’s share price on the New York stock exchange has risen to a record high of £18.50 per share.
The Glazer family’s decision to sell off ten per cent of their shares in the club six years ago has paved the way for other investors to pile in and dramatically increase even in the wake of Sir Alex Ferguson‘s departure.
Ed Woodward has been heavily criticised by supporters for his lack of transfer activity this summer but his experience in marketing and business has ensured a number of big sponsorship deals for Man United, with the club announcing a shirt sleeve deal with Kohler for an estimated $25m.
That is why the Glazers remain very happy with Woodward and the current state of the club. News of share prices hitting an all time high in Trump’s America will only add to that feeling.
You may be wondering: what does this mean for me, a supporter of the United team?
Well, not much at all really. Unless you are a wealthy stockbroker or prolific trader, this is essentially bad news as a United fan.
The club’s continued commercial success and global appeal in the post-Fergie era has rendered having the best squad in the country – or one at least capable of competing for the title – a superfluous endeavour. When it comes to the football side of things, the only real requirement is reaching the top four.
News of financial success at a time of enormous shortcomings on the pitch is a damning indictment on United as a club and institution, and serves as a worrying precursor for the way football is evolving at the highest level.