The society manchester united plcwhich controls the New York-listed English professional soccer club, saw its market capitalization fall by more than $700 million on Tuesday alone, inconsistent with media reports that the club had been withdrawn from sale.
The British newspaper ‘Daily Mail’ reported, in its Sunday edition, that the Glazer family, the club’s majority shareholder, would give up on selling its stake considering that the offers submitted were too low. .
On Tuesday, the group, listed on the New York Stock Exchange, one of the two main New York stock exchanges, fell 18.22% in a day, wiping out just over $700 million of capitalization. It was the biggest drop for the stock in one session since its IPO in 2012.
According to the British press, the two potential buyers are still in the running, the founder and CEO of the petrochemical group Ineos, Jim Ratcliffe, and Sheikh Jassin Ben Hamad al-Thani, president of the Qatar Islamic Bank (QIB), have submitted a proposal that would cost the club around five billion pounds (almost six billion euros).
But, according to the ‘Daily Mail’, the Glazers expect around ten billion pounds to transfer control of ManU, in which they own around two-thirds of the capital (but almost all the rights to voting). The market capitalization of the Old Trafford club is now $3.15bn, less than half the price the Glazers were hoping for.
Citing anonymous sources close to the Glazers and possible buyers, the special site ’90min’ indicated that talks are ongoing with a view to a sale.
The club was gradually bought between 2003 and 2005 by American businessman Malcolm Glazer, who later transferred his shares to his six children upon his death in 2014. The businessman’s heirs announced in November 2022 that -they will consider selling the club three times. Champions League winner.
Many ManU supporters are angry with the Glazers, accusing them of owing the club at the time of its takeover and of not investing enough to allow the Mancunian institution to remain competitive.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
