A “FEELING that the Glazer family will NOT sell Manchester United” has reportedly led to the club’s share price plummeting by almost ten per cent.
The Red Devils are only worth around £1.3BILLION according to new analysis – significantly less than the Glazers’ rumoured asking price.
The Glazer family have been exploring a sale since the end of last year, but are yet to receive the £6bn they want.
Qatar’s Sheikh Jassim wants to buy the club either in its entirety now, or not at all.
He, as well as boyhood Man United fan Sir Jim Ratcliffe, are both set to have initial bids rejected by the Glazers.
Bidders are currently waiting to hear back from The Raine Group, the bank overseeing the possible sale.
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The market value of United, who won the Carabao Cup at Wembley on Sunday in front of Avram Glazer, was thought to be at around £3.75bn. Sheikh Jassim and Sir Jim Ratcliffe’s bids were believed to be in this region.
However fresh reports in the Financial Times have had a big impact on their shareholders and the price of stock.
Sky Sports journalist Kaveh Solhekol said: “The share price has fallen by almost 10 per cent and I think the reasons behind that are down to two reports in the Financial Times this weekend.
“The first one said that Manchester United are not worth the £5bn that the Glazers are looking for if they were to sell Manchester United as, according to the FT, United are worth £1.3bn. Much less than anyone had thought before.
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“There was also another report on Saturday which said that the bidders for Manchester United had so far not offered enough money to tempt the Glazers to sell.
“If the Glazers were to sell then the two bidders that we know about, Sheikh Jassim from Qatar and Sir Jim Ratcliffe and his INEOS company, would have to increase their bids.
“This has all led to a sense that the Glazers will not sell Manchester United.”
Solhekol reiterated: “What’s happened is that the traders, the people who own shares, the value of them shares has gone down today because there is a feeling that the Glazers might not sell.
“And if they are not going to sell, Man United is not worth £6bn, £7bn and it could be worth closer to what the Financial Times is saying, which is £1.3bn.
“That is why the share price has gone down today.
“Forget what has happened on the football pitch, if you’re an investor all that matters is are the Glazers going to sell the club and how much is the club worth, and at the moment, there seems to be a feeling that the Glazers are not going to sell the club.”
He added: “The Glazers have never come out and said ‘we want to sell Manchester United’. They’ve been very clever about it.
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“In November they said that they were exploring alternative strategies, potentially that could lead to a sale.
“But you could make the argument that United are playing so well at the moment, winning trophies again, is it really a good time sell? Maybe the clever thing to do is hold on to the club but just sell a small stake and use the money in redeveloping the stadium and training ground.”
Source: Soccer - thesun.co.uk
