$1.2 Billion Wiped Off $4.6 Billion Manchester United’s Market Value Amid Fears Surrounding Glazers’ Massive U-Turn

The Glazers put Premier League giants Manchester United on sale in November last year. They were looking for new strategic alternatives for the club, which is making losses. However, there were only talks of the bids, but no firm bid arrived at the start. Glazers declared a soft deadline of February 17 for the bidders to place their bids.

Only two bids arrived publicly by February 17, one from Qatar and the other from a British entrepreneur. It was below the expectation of the owners, who expected more bids. Meanwhile, after new reports emerged that Glazers might keep control of the club, the shares price of the club has been going down. United has lost $1.2 billion market value in a week since then. 

Glazers’ reported U-turn is costing Manchester United

Soccer financial expert Kieran Maguire tweeted recently about the financials on February 27. On that day, the share of the club has fallen by 12.9%, according to Maguire. The price of the shares is falling since a week when the reports of a split between the Glazer family over the selling decision emerged. 

The market value of the Red Devils has gone down by $1.2 billion, according to Maguire, in over a week. The reports from ESPN earlier this month stated the Glazer family is in a split over a selling decision, and two members want to keep control of the club. It comes after the revival of United under the newly appointed Erik Ten Hag. United is in significant form since the announcement of the sale of the club in November.

Moreover, ESPN reported last week that a hedge fund from the US is ready to back the Glazers should they stay as owners. Elliott Management is ready to invest in the club to revive its stadium and other infrastructure to help the Glazers. Since the reports of the hedge fund’s interest, the shares have fallen, wiping $1.2 billion off the United’s market value. 

What’s next for the Red Devils?

United fans are still protesting against the Glazer family and want them to leave the ownership. The two substantial bids for the 100% takeover of the United are still on the table. It will be interesting to see which way the pendulum swings. However, the off-the-field indecision over the sale of the club isn’t affecting the team on the field.

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Under Ten Hag, United finally won their first trophy on Sunday in five years. They beat Newcastle United in the League Cup final on Sunday to win the silverware. United’s revival under Ten Hag has made the club consolidate the top four in the Premier League. United also is in contention for the Premier League, UEFA Europa League, and the FA Cup.

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Only time will tell how many trophies United will win amongst the three. But one thing is sure, the indecision over the sale is costing the club in the markets. What do you think about the current situation of the club in the market? Will the Glazers sell or keep the club?