Manchester United share prices take massive dip following Glazers’ interest in staying at Old Trafford

Manchester United shares listed in the New York Stock Exchange dipped after interest from the Glazers to stay at the club emerge again.

Manchester United share prices take massive dip following Glazers’ interest in staying at Old Trafford

Manchester United during a PL game at Old Trafford

Manchester United‘s U.S.-listed shares have certainly dipped by over 9%, compensating for last week’s hike in stock prices. The Glazers family, who have held ownership of the club for over a decade finally decided to step down from Old Trafford. This move attracted various wealthy investors from across the globe to acquire the historic club.

The Premier League side’s shares on the New York Stock Exchange hiked from $24.27 to $26.84 last week. This happened after the chairman of Qatari bank; Sheikh Jassim Bin Hammad Al Thani showed his interest in the club. Investors shook the Raine Group, who have been responsible for the club’s sale after their involvement with Chelsea FC’s sale to Todd Boehly.

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As per the Journal, the Glazers are considering submitting multiple bids for the club. The family is interested in bidding for full, as well as partial stakes in Manchester United. The Glazers have recently been given the option to receive financial backing from a U.S.-based hedge fund, named Elliot Management. The business family hasn’t given an official statement regarding their stand. Though, the move would be heavily criticized by all Manchester United fans.

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The club has received two public offers as of now. Lifelong supporter Jim Ratcliffe and the Chairman of Qatari Bank Al Thani are in a competitive race for the stakes of Manchester United. Manchester United’s stock recently took a hike, rising up by 12% on the NYSE earlier this week. Although, since the news of the Glazers’ family coming back to the bidding race went viral, the stocks dipped again massively.

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Can Manchester United finally win a trophy this season?

Manchester United squad at Old Trafford (Photo via Twitter)

Things are changing at Old Trafford after the club is exploring its options before appointing new owners. Since Erik Ten Hag’s arrival, there has been a sense of discipline at the club. Manchester United is currently third in the PL table, sitting only three points away from reigning champions Manchester City.

The Dutch manager has turned the season around for the Red Devils after signing crucial players like Casemiro, Lisandro Martinez, Wout Weghorst, and so on. Manchester United cruised past Leicester City in a comfortable 3-0 victory in a Premier League fixture earlier this week. They also put up a show against FC Barcelona at Camp Nou during a thrilling Europa League fixture.

The Old Trafford side finally has an opportunity to lift a trophy after six years. They will face Newcastle United in the final of the Carabao Cup this week, to fight for their first silverware since 2017. Ten Hag’s side is also showing great potential in Europe. They will be considered serious contenders to win the UEFA Europa League trophy if they beat FC Barcelona in the second leg.

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