The Glazer family put Man Utd up for sale last November. Nearly a year has passed with many bid packages being offered, but American owners still do not accept the proposal of Qatar Bank President, Sheikh Jassim.
Instead, next Thursday, Man Utd’s Board of Directors will meet to vote on whether to allow Sir Jim Ratcliffe to buy back 25% of the team’s shares. There will be 12 members participating in this process, of which 6 votes belong to the Glazer family.
Everything is still open ahead, but after the news of Sheikh Jassim’s withdrawal, Man Utd’s shares have plummeted.
Journalist Ben Jacobs wrote on Twitter: “Man Utd shares fell 22% before reopening the trading session. It is currently down 8%, at one point 13% and remaining at $18.50 per share. The price is gradually recovering (20.06 USD/share) at the time of market closing, after the news that Jim Ratcliffe wanted to buy back 25% of the club’s shares and Sheikh Jassim withdrew.
Previously, in early September, Man Utd’s shares remained at more than 23 USD/share.
Ngoa Long | 05:00 October 17, 2023