Shares of Manchester United (NYSE:MANU) plunged in today’s trading session amid rumors that the Glazer family may not fully sell the famous soccer club. The Glazers, who have been exploring strategic options, are reportedly growing confident in securing external investment to maintain control and potentially double the club’s value over the next decade.
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Although two prominent full bids have come from Sir Jim Ratcliffe and Qatari investor Sheikh Jassim bin Hamad al Thani, with five private bids expected by month-end, the Glazers could also attract interest from U.S. private-equity investors for a minority stake. The club’s final outcome may depend on the price, as the Glazers seek £5B-£6B for a full sale, which would make Manchester United the most valuable sports team sale ever.
Allok at the past five trading days highlights the impact that today’s news had on MANU stock. As a result, investors are down over 14% during this timeframe.
