Despite recent market fluctuations, Manchester United continues to be up for sale, according to insider information shared by journalist Ben Jacobs with GiveMeSport.
The club’s shares experienced their worst-ever single-day drop this Tuesday, slashing more than £600 million from the club’s market value.
This came on the heels of speculations that the Glazer family, the current owners, were considering removing the club from the sale list.
The plunge in share price was the most significant since the club went public nine years ago in 2012, eclipsing the previous record set on March 12, 2020.
Last weekend, the Daily Mail cited that the Glazers have struggled to meet their initial asking price for the club, thus leading to rumors that Manchester United would be taken off the market.
Since becoming available for purchase in November, only two significant bids have been made for the club.
Sheikh Jassim bin Hamad Al Thani has expressed interest in acquiring the full ownership, while INEOS Chairman Sir Jim Ratcliffe envisions a scenario where the Glazers remain as minority shareholders after he buys a majority stake.
Despite this, it’s noted that potential buyers are growing impatient, given the vagueness of the Glazers’ position on the sale. Jacobs elucidated on the slow pace of negotiations, stating to GiveMeSport:
“First of all, the reality is that the Glazers are slow decision-makers. Second of all, they may not collectively know yet as a six what they want to do. Thirdly, they may be determined sellers, but only at the right price. If they can’t get to that price, they have to manufacture a competitive tension to try and do that. And if they still can’t succeed, they must move in another direction. This is why I think that there are lots of media reports that conflict with each other. There’s lots of speculation. There’s lots of reaction on the stock market. But again, those close to the sale still are adamant that the process is active and that no final decision or winner is yet determined.”