The road for Glazers to retain hold of Manchester United till 2025 seems to be getting tougher. Man United’s share price plummeted by over 18 per cent on Tuesday, making it the worst market day in the history of the club. This essentially means that the potential Manchester United Takeover can be soon.
The massive drop, (the club’s value nosedived by more than £600 million), comes after reports in England state that the Man United owners Glazers family are reluctant to sell the club below their asking price of £10 billion. Mail also reported that the Glazers were considering putting Man United off the market till 2025.
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The report came as a shock to many as the family had in November 2022 announced their intention to sell the Premier League club as they explored “strategic alternatives”.
Notably, Qatari banker Sheikh Jassim Bin Al Thani and British billionaire Sir Jim Ratcliffe both submitted bids worth around £ 5 billion for full control of the club earlier this year.
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The massive plunge in the club’s share prices looks like an extension of the disappointment that has shrouded the fans since Mail‘s report.
Reason behind Glazers’ U-turn
The reason behind this decision by the Glazers to take United off the market now is that the Glazer family will try to sell the club again in 2025, when they hope financial and ‘environmental’ factors may attract more bidders.
The Glazers hope for a higher price thanks to an uplift in TV rights revenues. The expansion of FIFA’s Club World Cup to 32 teams from 2025, which could be very lucrative, and the forthcoming 2026 World Cup. That event, to be hosted in the USA, will heighten the interest of American billionaires in football investments. The Glazers think this may help them sell United for between £7 billion and £10 billion.
The Glazers have heavily backed manager Erik ten Hag in the transfer market since the latter’s arrival. They would hope he can deliver major silverware to the club over the next two seasons, which would help boost the sale price.
