Man Utd v Newcastle: Carabao Cup final pictures
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Manchester United’s share price has plummetted again as concerns over the Glazer family making a U-turn on plans to sell up grow. The club’s share price has now fallen by around $1.2billion in just over a week after reports claiming initial offers were well below the Glazers’ hefty valuation.
According to the Financial Times, United’s current owners weren’t happy with the indicative offers they received before the Friday 17 soft deadline.
INEOS, helmed by lifelong United fan Sir Jim Ratcliffe, and Qatari Sheikh Jassim bin Hamad al Thani, also a supporter, confirmed they had launched bids earlier this month.
Meanwhile, other parties have submitted offers for minority investment, which would see the Glazers maintain control at Old Trafford.
That is likely the route the family will go down if they don’t receive an offer matching their reported £6bn asking price.
After the unsuccessful first wave of bids, the price sunk by more than 12 per cent on Monday, prompting United’s market value to descend to a three-month low at just over $20 a share.
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The Glazers are universally disliked throughout the fanbase after regularly taking dividends out of the club and failing to invest in the stadium and training facilities after controversially buying the Red Devils in 2005.
But there was hope their tenure was approaching its end when they announced they were exploring investment options, including a potential sale, in November.
Co-chairmen Joel and Avram Glazer are the two most involved within the family, and minority investment could lead to them buying out their siblings’ stakes to remain owners.
Avram was in attendance at Wembley Stadium on Sunday as Erik ten Hag ended United’s six-year trophy drought, lifting the Carabao Cup.
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It was just the fourth time he had watched United live in as many years, another subject of mass criticism.
Loud boos rang around the Red Devils’ half of the stadium when he appeared on the big screens to congratulate the players and Ten Hag before the trophy lift.
Relentless chants against the Glazers regime rang around Wembley throughout the final as fans continue to show their desperation for a change at the top.
But any suitor will likely have to pay above the odds to take the reins of a sleeping giant that has started to awaken again.
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