Man Utd share price nosedives as fears Glazers won’t sell club grow following Gary Neville theory
MANCHESTER UNITED’S share price has dropped once again amid fears the Glazers will not sell the club.
The American owners placed the club on the market last year with two bidders coming forward before last Friday’s deadline – Jim Ratcliffe’s led Ineos and Qatari Sheikh Jassim Bin Hamad Al Thani, who is prepared to offer £5billion.
And the interest from the Qatar royal family member led United’s share price to soar by £334million, to £21.85 per share.
But since the markets opened on Tuesday the share price has nosedived, dropping to £20.22 within 30 minutes.
It later fell further to just £18.88 after it emerged the Glazers had been offered financial backing by American hedgefund Elliott Management to stay as owners.
The Glazers outlined they were open to remaining as minority stakeholders when they placed the club up for sale in November.
Both Ratcliffe and Sheikh Jassim want to buy the club outright, with the latter seeking 100 per cent ownership.
But Gary Neville is concerned the Glazers may not be prepared to relinquish control just yet.
He has doubts over the Glazers’ intentions following United’s announcement that season ticket prices for next season will be increased by five per cent.
Neville reacted to the news by tweeting: “The increase to ticket prices at United is very odd!
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“Why would a seller that’s leaving before the next season starts introduce something that has brought them more hate and they won’t benefit from!
“Any new buyer would most likely freeze the price in year one to stay on side with fans. It does beg the question whether they are really going! I have my doubts with actions like this one!”