Following reports that the Glazer family will continue as owners of Manchester United, the club’s value experienced a significant decline. The stock price of the company fell by 13% after ESPN revealed that owners and co-chairmen Joel and Avram Glazer are confident in securing investment that would enable them to retain ownership.
According to the cited source, the Glazer brothers prefer new investment that would allow them to remain in control, while siblings and fellow directors sell their holdings. It is expected that this investment will lead to a doubling of the club’s value. The drop in shares reached $18.91 each at one point on Monday morning in New York, marking the lowest point since November. Manchester United is a public company, with some of its shares listed on the New York Stock Exchange.
The Glazer family has owned Manchester United since 2005, and their ownership has been a subject of controversy among many fans. Throughout their tenure, the phrase “Love United, Hate Glazers” has been used by fans critical of what they perceive as a lack of investment in club infrastructure, while substantial dividends have been paid to shareholders due to the club’s commercial success.
Earlier this month, the Manchester United Supporters Trust (MUST), the club’s largest fans’ group, called for the prompt conclusion of the auction to purchase the club. The supporters’ trust is eager for a change in ownership. In November, Sky News reported exclusively that Manchester United was considering a sale to raise funds for team investment and the long-overdue redevelopment of Old Trafford.
Several potential bidders have shown interest in acquiring the club, although most, including the prominent American financial investor Carlyle, are seeking minority stakes. Two notable bidders in contention for ownership are Qatari businessman Sheikh Jassim bin Hamad al-Thani and Ineos Sports, a division of the petrochemicals group owned by British billionaire Sir Jim Ratcliffe.
As Manchester United navigates this period of uncertainty regarding its ownership, fans and investors eagerly await the outcome of the ongoing discussions. The future direction of the club and its potential for renewed investment will undoubtedly impact its competitiveness on the field and its relationship with its passionate fanbase.