{"id":97648,"date":"2023-09-06T11:00:31","date_gmt":"2023-09-06T11:00:31","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/09\/06\/manchester-united-shares-dive-on-report-sale-is-off\/"},"modified":"2023-09-06T11:00:31","modified_gmt":"2023-09-06T11:00:31","slug":"manchester-united-shares-dive-on-report-sale-is-off","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/09\/06\/manchester-united-shares-dive-on-report-sale-is-off\/","title":{"rendered":"Manchester United shares dive on report sale is off"},"content":{"rendered":"

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GETTY IMAGES<\/p>\n

Image caption: Manchester United’s former manager Sir Alex Ferguson and the club’s co-chairman Avram Glazer<\/figcaption><\/figure>\n<\/div>\n

Manchester United shares have seen their biggest ever one-day fall after a report that the team\u2019s US owners are going to take it off the market.<\/p>\n

The club\u2019s shares fell by more than 18% in New York on Tuesday.<\/p>\n

That came after the Mail on Sunday reported that no potential buyer had matched the club\u2019s asking price.<\/p>\n

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The US-based Glazer family announced in November it was considering selling the Premier League club as they explored \u201cstrategic alternatives\u201d.<\/p>\n

Manchester United\u2019s co-chairmen, brothers Joel and Avram Glazer, are holding out for an offer of \u00a310bn, according to the Mail on Sunday.<\/p>\n

However, prospective bidders Sheikh Jassim of Qatar and British billionaire Sir Jim Ratcliffe had not come close to offering that amount, the paper said.<\/p>\n

The newspaper cited a source with long-standing close ties to the club\u2019s owners as saying the Glazer family may try again next year to sell the team when they hoped to attract more bidders.<\/p>\n

The club did not immediately respond to a BBC request for comment.<\/p>\n

Tuesday\u2019s share price fall wiped around $700m (\u00a3556m) off Manchester United\u2019s stock market valuation. It is now valued at about $3.2bn.<\/p>\n

The Glazer family bought Manchester United in 2005 for $790m.<\/p>\n

However, they have faced fierce opposition from some fans who accuse them of loading the club with debt and not investing enough in it.<\/p>\n

Since the takeover the club has spent more than \u00a31bn on interest and loan payments, plus share dividends \u2013 the majority of which have gone to the Glazer family.<\/p>\n

But the club has also spent some 1.36bn euros (\u00a31.18bn) on transfers under the Glazers.<\/p>\n

Last month, the 1958 Group, which is made up of fans that want the Glazers out of the club, held a protest at Old Trafford to signal their continued opposition to the family\u2019s ownership.<\/p>\n

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