Man Utd's share price fell by almost 10 per cent on Monday amid concerns the Glazers will not sell; Financial Times report has calculated the club are worth only £1.3bn; so far, only two bidders are known to have submitted proposals to buy United
Thursday 2 March 2023 07:34, UK
Manchester United's share price fell by almost 10 per cent on Monday amid concerns that the Glazers will not sell and a Financial Times report which has calculated the club are worth only £1.3bn.
Despite their Carabao Cup final success at Wembley on Sunday, United's share price plunged 9.6 per cent on Monday to $20.62 and has gone down 17 per cent in a week, wiping almost $1bn off the value of the club.
The Glazers are believed to have set a target price of at least £5bn for a potential sale.
Meanwhile, as of Monday afternoon bidders were still waiting to hear back from The Raine Group, who are organising the potential sale on behalf of the Glazer family, about the next steps in the process.
Only Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe made indicative offers to buy United before the soft deadline on February 17.
If the Glazers do want to sell, the bids from Sheikh Jassim and Ratcliffe would be given access to detailed financial information and data so they can proceed to making formal offers for the club.
Elliott Management, MSD Partners and Oaktree Capital are understood to be willing to provide financing for any bidders.
However, there are still concerns that the Glazers will not sell the club and are only seeking minority investment.
There is expected to be movement in the next few days and it could be significant that co-owner Avram Glazer was at Wembley on Sunday for United's 2-0 win over Newcastle.
He watched on alongside former United boss Sir Alex Ferguson as Erik ten Hag sealed his first trophy as United manager.
Glazer was also part of the celebrations in the dressing room and despite the audible fan protests from the Manchester United fans, he appeared to enjoy the occasion as United secured a first piece of silverware since 2017.
Sky Sports News chief reporter Kaveh Solhekol:
"The Glazers have never come out and said they definitely want to sell the club, they've been very clever about what they've said.
"In November they said they were exploring alternative strategies that could potentially lead to a sale. But you could make the argument that Man Utd are playing so well at the moment, winning trophies again, is this a good time to sell?
"Maybe the clever thing to do is hold onto the club, but just sell a small stake, and use the money from that to invest into redeveloping the stadium and the training ground."
Ten Hag said after the Carabao Cup final that Avram Glazer's attendance at Wembley demonstrated his commitment to the club.
Ten Hag said: "He [Avram Glazer] was really happy for the club, as our owner. He wanted to be part of it.
"He was in the dressing room, good he was here, showed his intentions.
"I don't know [anything about a potential sale of the club], I'm not involved in that process, but the way he is here you feel he is committed. But the process, what he wants, that is not for me.
"I lead this team, others are involved in decisions about ownership."
Gary Neville praised Manchester United's transformation under Ten Hag after their Carabao Cup final win.
Neville said: "It's about one man that has transformed a team from whiners into winners - what a job Erik ten Hag has done.
"Players are out there that shouldn't have played for Manchester United again but they are performing at a high level.
"They have a spirit and a fight. There is a real chance of winning trophies beyond this. He makes good decisions in matches - his subs were critical in making sure they saw this game out. It's been a brilliant last few months."
Erik ten Hag's Manchester United transformation has brought its first trophy and there could be more success to follow.
As his players paraded the trophy in front of Manchester United's jubilant supporters at Wembley, Ten Hag watched on, quietly contented, from the side of the pitch.
He was happy to leave the spotlight to others but the manager's role in this success can hardly be overstated. He has transformed Manchester United and it is only the start.
