Manchester United’s share price fell by 9.5 per cent on Thursday following reports that Sir Jim Ratcliffe had moved ahead of Sheikh Jassim bin Hamad Al-Thani as the Glazers’ preferred bidder.
The stock value on the New York Stock Exchange dropped from $20.30 to $18.37 amid the speculation, as per the Manchester Evening News.
In the past 24 hours, with The Times suggesting Ratcliffe is closing in on a takeover, the stock value has took a hit after months of hikes and drops.
Manchester United share price down 8% yesterday as speculators get jitters following report that SJR was preferred bidder and wound not be buying the shares listed on NYSE. Share price down almost 50% on peak of 27.34 just over a couple of months ago #MUFC pic.twitter.com/I4gbeHHgSA
— Kieran Maguire (@KieranMaguire) May 12, 2023
However, it has been six months since the Glazers announced they were exploring “strategic alternatives for the club” and bidders have thus far had three rounds of bidding to impress the American family and their financial advisors Raine Group.
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Reports believe Ratcliffe’s proposal would see Avram and Joel Glazer stay as minor shareholders, while the INEOS billionaire takes majority control. While this would be unpopular with fans it is worth noting that the American family will have no real power on the direction the club takes.
Meanwhile, Sheikh Jassim wants to take over 100 per cent of the club, but the two bidders have put forward two different valuations on the Glazers’ biggest asset.
It has been speculated that next week will be when the Glazers, or Raine Group, announce their attentions for the next step of the takeover.
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