Man United’s valuation crashes by $629 million at the stock market

Manchester United’s valuation on the New York Stock Exchange has collapsed by $629 million following the announcement that the club’s owners, the Glazer family, have decided not to sell it.

Nine months ago, the Glazers announced that a full stake sale was among the options being considered as part of the Old Trafford club’s strategic review.

Qatar’s Sheikh Jassim and British businessman Sir Jim Ratcliffe have made bids to buy Manchester United, but at this stage they have not been accepted, despite fan displeasure and their desire for the sale to be finalized as quickly as possible.

However, hopes of a full sale appeared to be dashed when Sunday’s Daily Mail reported that the owners are taking the club off the market and will try to sell it again in 2025.

🚨 MANCHESTER UNITED will be taken off the market, according to a new report.

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It’s claimed that the Glazers have failed to get close to their valuation of the club and intend to end the sale process. pic.twitter.com/bmk7K2G8A1

— Robbylinon👽 (@MrRobbylinon) September 3, 2023

That information alone drove more than $600 million off Manchester United’s share price on Tuesday. After the New York Stock Exchange reopened after the Labor Day holiday on Monday, the price fell sharply from $23.66 to $19.35. After the decline of 18.22 percent, the club’s market capitalization on the stock market reached $3.15 billion. According to the British press, the Glazer family hopes to receive $6 billion for the club’s shares in two years time.