Manchester United’s valuation on the NYSE slumped by more than £500m following a report that the Glazer family have decided not to sell the club.
Nine months ago the owners announced a full sale was among the options being considered as part of a strategic review at the Old Trafford club.
Qatar’s Sheikh Jassim and INEOS chief Sir Jim Ratcliffe have both made offers to buy United, but the drawn out process continues nine months after the family said a full sale of the huge sporting brand was on the table. Fans continue to protest against the Glazers’ ownership.
The Mail on Sunday reported at the weekend that the owners are taking the club off the market and will try to sell again in 2025, after which more than £500m was wiped off United’s share price when markets reopened on Tuesday, following the Labor Day holiday in the US.
United’s shares closed yesterday at $19.35 (£15.40), down from $23.66 (£18.83) before the holiday weekend.
The company was valued at $3.15billion (£2.5bn) after the drop, some way off the Glazer’s reported asking price of £6bn.
