The share price of Manchester United has taken a dip, with some expressing concerns the Glazer family could make a u-turn on their proposed sale.
The Glazers, who have owned the Premier League club since 2005, put them up for sale in November 2022. A soft deadline of February 17 was set for bids to come in, and Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani are among those to go public with their interest.
United's owners have been unpopular with sections of the fanbase, with significant protests taking place over recent years. A number of supporters have shared their wishes for a majority or full takeover of the club, but a decision has yet to be reached.
As bids came in for the club, United's share price hit a 52-week high of US$27.03. When the markets opened on Tuesday, the price stood at $24.94, but it fell to close the day on $23.13 - the lowest it has been in close to two weeks.
Reports from ESPN over the weekend suggested Elliott Investment Management, the third group to be publicly named as a potential investor, could allow the Glazers to retain an interest. Rather than completing a takeover themselves, Elliott are prepared to provide financing, just as they did for former AC Milan owner Li Yonghong.
A November 2022 statement detailing the potential sale plans explained that "The Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company." Now, some - including former club captain Gary Neville - are worried about the family sticking around.
"I think what scares Man United fans most is the feeling this Man United ownership are running this process to drive a massive price up,” Neville told Sky Sports.
"To try to somehow establish a level which means two of them can stay in and the rest of the family that want out can be bought out by an American fund who wouldn't mind owning a minority or significant share but not the entirety of the share. That's the biggest concern.
"The whole emphasis at this moment in time from Man United fans is this has to be the end of the Glazer ownership.”
Neville also described an upcoming ticket price increase at Old Trafford as "very odd". “Why would a seller that’s leaving before the next season starts introduce something that has brought them more hate and they won’t benefit from!" he wrote on Twitter.
“Any new buyer would most likely freeze the price in year 1 to stay on side with fans. It does beg the question whether they are really going! I have my doubts with actions like this one!”
