Manchester United’s share price has fallen by almost 10% amid reports of the Glazers staying.
Forbes stated:
“Manchester United’s stock dropped more than 9.2% Monday to close at $20.78, before falling another 0.9% in after-hours trading to $20.60 as of 5:55 p.m. Eastern.”
“The stock is now down more than 24.5% since it hit a 52-week high of $27.34 on February 16, following reports the Qatar Islamic Bank chairman submitted a bid to buy Manchester United that could reach $6 billion—the number the billionaire Glazer family reportedly wants to sell the club.”
Sky Sports claim that Avram and Joel Glazer are reluctant to sell the club, unlike their siblings Kevin, Edward, Bryan and Darcie.
🚨💰 JUST IN:
Formal offers for #MUFC would need to be significantly increased to tempt the Glazers into an outright sale. Their feeling is that United's stature, pull around the globe and potential for future growth revenue has been underestimated. @SkyFootball ✅
— UtdPlug (@UtdPlug) February 28, 2023
🚨💰 The Glazers expected more interest to be registered in #mufc by February 17. Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe are the only public bidders, and their tenders fall short of the £6bn being targeted. @SkyFootball
— UtdPlug (@UtdPlug) February 28, 2023
They value United close to £6 billion and believe that is the appropriate price keeping in mind the enormous global reach and potential for growth in the future.
The Glazers expected more interest to be generated in buying United, and were left underwhelmed by the two public offers from Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe.
According to The Financial Times, the bidders will need to increase their offers to woo the current United owners into selling.
United fans made their thoughts known with the ‘Glazer Out’ chants at the Carabao Cup final.
Will pressure from the fans eventually force the current owners to concede their poisonous grip on the club? Only time will tell.