Manchester United owners the Glazers faced more scrutiny of their running of the Reds on Friday but this time from an unfamiliar source.
Manchester United stock price continues to fall as takeover saga rumbles on
11.07.2023 - 21:47 / manchestereveningnews.co.uk
Manchester United's stock price has continued to drop today after a bad day on the New York Stock Exchange on Monday.
Yesterday, United's share price closed at $23.60, which constituted a 2.38 per cent drop based on the day prior. While this was bad, Tuesday was even worse for the Reds.
United's stock dropped a further 2.91 per cent to close at $22.91. Over the course of five days, the Reds' share price on the market has fallen 7.62 per cent.
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While still comfortably up on this time a month ago, the recent fall in United's share price could be an indicator of the takeover not being on the horizon. Although not a guaranteed sign of the likelihood of a sale, a stock normally rises when a takeover is set to occur.
When it was being reported last month that Sheikh Jassim bin Hamad Al Thani was closing in on a deal to purchase the Reds, the price of shares rose exponentially. However, with news beginning to slow on the sale, the market is reacting accordingly and the stock value is falling again.
As the New York Stock Exchange continues to react to the Glazers' indecision, United fans are becoming increasingly frustrated by the lack of progress. The Reds' owners announced in November they were seeking 'strategic alternatives' in an attempt to carry the club forward.
However, updates have been few and far between with both Sheikh Jassim and Sir Jim Ratcliffe waiting for the Glazers to choose their preferred bidder.
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