NEW YORK: Manchester United's valuation on the New York Stock Exchange plummeted by more than US$700 million on Tuesday (Sep 5) after a British media report that the team's owners had halted plans to sell the club. United's owners,
NEW YORK: Manchester United's valuation on the New York Stock Exchange plummeted by more than US$700 million on Tuesday after a British media report that the team's owners had halted plans to sell the club., have reportedly taken the club off the market after failing to attract an offer that meets their asking price, the Daily Mail reported Sunday.
According to the British press, the club's two leading suitors - British billqataionaire Jim Ratcliffe who founded chemicals giant INEOS and Qatari banker Sheikh Jassim Bin Hamad Al Thani - both submitted deals that value United at approximately £5 billion, or around US$6.3 billion.Manchester United's market capitalisation is now at US$3.15 billion, less than half the US$7.5 billion asking price the Glazers put on the club.
The club was gradually bought between 2003 and 2005 by US entrepreneur Malcolm Glazer, who passed his shares to his six children upon his death in 2014.
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