English Premier League soccer club Manchester United (NYSE:MANU) is bringing in SCAYLE as its official eCommerce partner. The company’s new direct-to-consumer eCommerce experience for fans is expected to be launched later this year. Created with business-to-consumer use cases in mind, SCAYLE already caters to over 140 online stores. MANU is banking on the platform to deliver an elevated experience to its global fan base through personalization.
The announcement comes after Manchester United roped in Omar Berrada as its new CEO earlier this week. The start date for the new appointment is yet to be confirmed, and Patrick Stewart will continue to serve as the interim CEO for MANU.
Importantly, the leadership change comes as MANU looks to re-establish itself as a title-winning name. Last week, MANU lowered its financial outlook for Fiscal Year 2024 following an early exit from the Champions League due to the associated decline in Broadcasting revenue. Berrada has served in senior roles at Spanish soccer giant Barcelona and is currently the Chief Football Operations Officer for City Football Group.
It would be interesting to see if the entry of Berrada, along with British billionaire Jim Ratcliffe’s recent $1.3 billion acquisition of a 25% stake in the club, can help MANU turn its fortunes around.
What is the Target Price for MANU?
Jefferies’ Randal Konik, the lone analyst tracking MANU at present, has reiterated a Buy rating on the stock alongside a $26 price target. Following a nearly 14% slump in MANU shares over the past year, Konik’s price target points to a 32.25% potential upside in MANU stock.
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