Manchester United’s share price dipped to $21.82 on Monday, the lowest in a week, before rebounding again.
The club’s price rose back up to $22.35 on the New York Stock Exchange at the end of trading hours, although it still dropped 1.11% from Friday’s $22.60 closing level. United’s share price has somewhat sunk in the last few days.
After the valuation rose to a three-month high of $24.81 eleven days ago amid reports that Sheikh Jassim was nearing exclusivity talks in the takeover race, the share price has been slowly drifting off again.
There was a small resurgence last Thursday, perhaps due to rumours that Sir Jim Ratcliffe was ‘less confident’ in a buy-out. But Monday’s figures saw a 5% decrease in value across the last seven days.
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That said United’s share price is still up by 96.40% from this time last year, the mass increase sparked by November’s statement that the board was exploring “strategic alternatives”.
The lack of clarity and dulled speculation has caused United’s share price to plateau and fall in recent months with only the reports of Sheikh Jassim’s takeover proximity - which were later rebuffed - causing the trend to buck.
The Glazers have given no official update to fans since November’s sale announcement. Avram Glazer has responded to questions from journalists twice in the months since but ignored a more recent question while at the FA Cup final at Wembley.
Sheikh Jassim and Sir Jim Ratcliffe are the frontrunners in the takeover race but there is little certainty beyond that. There are fears that if a decision is not made soon then the official completion of the changeover may not be finalised until after the start of the new season.
Sheikh Jassim wishes to buy 100 per cent of United and has pledged to wipe the club’s debts. Ratcliffe is vying for a majority stake with reports suggesting he has proposed to keep Avram and Joel Glazer on as minority shareholders.
