Shares are down as speculation grows the club won't be sold but supporters are in the dark over the Glazers' plan for Man United.
It was a bad day for those with shares in Manchester United. The brand has been through a lot over the last couple of weeks but the fluctuation of the share price on the New York Stock Exchange over the last couple of months has risen and fallen based entirely on what people expect to happen with the takeover.
The club’s value dropped by more than £500million, with shares closing down 18.2% on Tuesday, having dropped 21% at one stage. It was the biggest fall in stock price since it went public 11 years ago and the fear in the market is not because Erik ten Hag’s team have lost a couple of games, because Jadon Sancho has called out his manager or because of the bad publicity the club have suffered through the Mason Greenwood and Antony cases.
Financial sources in the US have also questioned why the NYSE hasn’t stepped in earlier to apply pressure to the Glazers, with some taking a dim view of the way share prices have fluctuated based purely on rumour. The lack of communication hasn’t helped. It’s a far cry from the promises made by Joel in the wake of the European Super League fiasco when he wrote an open letter to supporters to beg for forgiveness and promise change.
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