Manchester United share price hits new low in New York
By PA Sport
Last Updated: 09/02/16 10:12am
Manchester United's share price dipped to its lowest level in over three years on Monday.
United's hopes of finishing the season in the Champions League places took a hit on Sunday when Diego Costa equalised in stoppage time to snatch a point for Chelsea against Louis van Gaal's men.
The Old Trafford side topped the table in November but are now six points adrift of the top four with 13 matches left, and the possibility of failing to qualify for Europe's leading club competition has clearly concerned investors.
United's share price on the New York Stock Exchange dropped alarmingly from an opening point of $14.50 (£10.05) to $13.79 (£9.56) on Monday morning.
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That figure was the lowest price since December 2012, lower than the darkest days of David Moyes' reign, although the price did rally later in the day to close at $14.10 (£9.77), still a loss of 2.89 per cent on the day.
The club's executive vice-chairman Ed Woodward has secured a remarkable string of commercial deals, most notably the world record £750m kit deal with adidas, but United's performances on the pitch and their league position are of clear concern to those who invest in the club.
Investors will get their chance to grill Woodward during a conference call on Thursday when the club's first-quarterly results of 2016 will also be announced.