Man United stocks fall amid Glazers’ Remarks

Shares of Manchester United PLC (MANU.N) dropped by 13% after the Glazer family revealed their plans to secure investments to retain ownership of the club. The family is confident that these investments will double the value of the club within the next decade, according to a source that spoke to ESPN. Currently, a small percentage of the club’s shares is listed on the New York Stock Exchange, and its market capitalisation was around $3.6bn as of Friday’s close. This marks the lowest share price for the club since the Glazers started weighing their options in late November 2020.

Reports suggest that US private equity firm Carlyle Group Inc (CG.O) is in talks regarding a “major” investment as the auction of the Premier League soccer club enters its final stages, as per Sky News. However, the deal is yet to be confirmed. A bid to buy the club was made in March by the son of former Qatar Prime Minister Jassim bin Jabr Al Thani, while the founder of chemical producer INEOS submitted a bid in February. If the club is sold, any transaction could exceed the biggest sports deal so far, worth $5.2bn, including debt and investments paid for Chelsea.

The final outcome of new investment or a potential sale of the club remains uncertain, leaving football enthusiasts uncertain. However, reports of the US private equity firm Carlyle Group Inc (CG.O) being in talks to invest in the club have created a positive outlook for the market. Manchester United has been a leading club in English football for the past two decades, but the Glazers’ remarks about new investments or potential sales have alarmed investors, leading to a fall in share prices.

Manchester United declined to comment on the matter, leaving only time to tell what decision the Glazers will make regarding the club’s ownership and potential investment.

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