Manchester United’s share price hit its lowest point of the calendar year, this week.
Manchester United share price falls to lowest in 2023 to date on a combination of general market jitters following bank collapse and loss of confidence of finding a buyer to pay £6bn for the club pic.twitter.com/eLsh1yXwOm
— Kieran Maguire (@KieranMaguire) March 13, 2023
The reason for the dip has come from a combination of general market jitters following bank collapse, but also the lack of confidence in the ongoing takeover.
Despite firm interest in the club, the Glazer family haven’t received an offer anywhere near their £6 billion asking price.
The two public bidders, Sheikh Jassim and Sir Jim Ratcliffe’s consortium, have both reportedly offered around the £4.5 billion mark.
It is believed there is further interest from silent bidders, reportedly from the U.S, but these parties have not gone public with their offer(s).
Representatives from the bidders were invited to Manchester last week, for ‘next stage’ talks with the United hierarchy.
It was reported members of the interested parties were present at Old Trafford for United’s impressive victory against Real Betis.
Sheikh Jassim’s bid remains favourite to win the race but the crash in the stock price reflects the belief that the Glazer family are digging their heels in for their eye-watering asking price.
If, in suggesting they might refuse to sell, the family’s intention is to get the investors to increase their bids, it could be having the opposite effect if it is causing the share price to fall, as this directly reduces the book value of the club.
In other words, the Glazers’ own unpopularity is their undoing.
It is also believed the family are split in their desires to sell up, with Avram and Joel Glazer not as keen to move on as other family members.
Avram Glazer was sitting with Sir Alex Ferguson at Wembley for the Carabao Cup success and was also present during the dressing room celebrations.
United fans are desperate for an end to the turbulent reign of the Glazers, having held consistent protests against the families ownership model since they acquired the club, back in 2005.