LONDON: Manchester United Plc shares slid in US premarket trading on Tuesday after a report in the Mail On Sunday that said the Glazer family is going to take the club off the market after failing to receive offers that match their asking price.
Shares of the Premier League team fell as much as 11% in premarket trading on Tuesday, putting the stock on track for its biggest one-day slump in about a month. As of last close, Manchester United was valued at US$3.9 billion.
The newspaper cited a source with long-standing close ties to the Glazers as saying the family may try to sell the club again in 2025 when improved conditions could attract more bidders. A spokesperson for Manchester United declined to comment on what they called “rumours and speculation”, when contacted by Bloomberg.
Sheikh Jassim Bin Hamad Al Thani, a member of Qatar’s royal family, and Ineos head Jim Ratcliffe have made offers to buy Manchester United from the Glazers, who have owned the club since 2005.