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Manchester Evening News
Manchester Evening News
Sport
Matthew Hobkinson

Manchester United share price soars as Glazers make huge gain after takeover claim

Manchester United's share price soared by almost 12 per cent on Wednesday - its biggest rise in a single day for nine years.

Since Sir Alex Ferguson left United, the club have been on a slow but steady decline and fan discontent with the club's Glazer family ownership is as high as it has ever been.

It is unclear what exactly prompted the value of shares in United to rise, but just a day earlier, Michael Knighton, who nearly bought United in 1989, announced his intention to lodge an offer to buy the club with the financial backing of a consortium.

ALSO READ: Most United fans know the truth about Michael Knighton's takeover hopes

Knighton's interview with a United fan channel on YouTube gained plenty of traction on social media, with fans hopeful he might be the man to end the Glazers' time at the club, but the reality is he is not viewed as a credible candidate to take over.

Nonetheless, shares in the club jumped 11.94 per cent on Wednesday - the biggest increase since the Glazers last sold shares during an initial public offering on the New York Stock Exchange in 2012. Furthermore, 1.8 million shares were traded in total - that is four times the average number over the last 10 days.

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