MANCHESTER UNITED’S value has dropped by a startling £1.3BILLION after shares fell to a record low on Monday.
At the close on June 13, the Red Devils’ shares were trading at $11.07, compared with $15.66 just 12 months earlier.
The Glazers have been criticised for their ownership of Manchester United – with the share price falling again on Monday Credit: PA And the shares had been as high as $20.74 last September when the team got off to a flying start at the beginning of the season and Cristiano Ronaldo returned to Old Trafford.
The worrying trend means that United’s share prices have fallen by 21 per cent since the Glazers took over 16 years ago.
According to the Manchester Evening News, the fall in share price can be put down to economic fears in the market as well as preparations to overhaul the squad and regenerate the stadium.
Back in May, it was confirmed that United’s debt had risen by nearly 12 per cent over the past year.
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Man Utd OFFER Christian Eriksen deal, Barcelona ‘drop De Jong price to £70m’ The overall figure now stands at £495.7million.
However, despite the club’s difficult financial position, dividends are still being taken out by the Glazer family.
The six members of the family are receiving dividends in January and June each year.
The next instalment will be paid to United’s unpopular owners on June 24.
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In January, the dividend payment to shareholders amounted to nearly £11m.
On the pitch, United suffered a competitive and financial blow last season when they failed to qualify for the Champions League.
Under interim boss Ralf Rangnick, they could only manage sixth place in the Premier League, meaning they will play in the 2022-23 Europa League.
New head coach Erik ten Hag is hoping to refresh the squad this summer – with a number of players leaving on free transfers including Paul Pogba, Edinson Cavani, Juan Mata, Jesse Lingard and Nemanja Matic.
In terms of arrivals, they have been linked with moves for Barcelona midfielder Frenkie de Jong and Ajax winger Antony.
Source: Soccer - thesun.co.uk
