[ad_1]
Manchester United’s share price fell by almost 10 percent on Monday amid concerns that the Glazers would not sell and Financial Times reports estimate the club is worth just £1.3bn.
Despite their success in the Carabao Cup final at Wembley on Sunday, United’s share price is now down 9.6 percent to $20.62 and is down 17 percent for the week, wiping $1 billion off the club’s value.
The Glazers are believed to have set a price target of at least £5bn for a potential sale.
Meanwhile, as of Monday afternoon, bidders were still awaiting word from The Raine Group, which is handling the potential sale for the Glazer family, on the next step in the process.
Only Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe made indicative offers to buy United before the February 17 deadline.
Should the Glazers wish to sell, bids from Sheikh Jassim and Ratcliffe will be given access to detailed financial information and data so they can proceed with a formal bid for the club.
Elliott Management, MSD Partners and Oaktree Capital are understood to be providing funding to the bidders.
Please use Chrome browser for more accessible video player
Erik ten Hag is greeted by Sir Alex Ferguson and co-owner Avram Glazer after the Carabao Cup victory over Newcastle.
However, there are still concerns that the Glazers will not sell the club and are only looking for a minority investment.
There is thought to be a move in the next few days and it could be crucial if co-owner Avram Glazer is at Wembley on Sunday for United’s 2-0 win over Newcastle.
He watched alongside former United boss Sir Alex Ferguson as Erik ten Hag sealed his first trophy as United manager.
Glazer was also part of the dressing room celebrations and despite fan protests heard from Manchester United fans, he seemed to enjoy the occasion as United secured their first trophy since 2017.
Please use Chrome browser for more accessible video player
Erik Ten Hag is greeted by Sir Alex Ferguson and co-owner Avram Glazer after the Carabao Cup victory over Newcastle.
Analysis: Is this really a good time to sell Man Utd?
Sky Sports News chief reporter Kaveh Solhekol:
“The Glazers have never come out and said they want to sell the club, they are very smart about what they say.
“In November they said they were exploring alternative strategies that could lead to a sale. But you could make the argument that Man Utd are playing well now, winning the cup again, is this a good time to sell?
“Maybe the smartest thing is to hold the club, but sell only a small share, and use the money to invest in rebuilding the stadium and the training ground.”
Ten Hag on Glazer after Wembley win: ‘He wants to be a part of it’
Please use Chrome browser for more accessible video player
Manchester United manager Erik ten Hag says Avram Glazer’s arrival at Wembley shows his commitment to the club.
Ten Hag spoke after the Carabao Cup final where Avram Glazer attended Wembley to show his commitment to the club.
Ten Hag said: “He [Avram Glazer] very happy for the club, as our owner. He wanted to be a part of it.
“He’s in the dressing room, it’s good he’s here, showing his intentions.
“I don’t know [anything about a potential sale of the club], I did not participate in that process, but the way here you feel that he is committed. But the process, what you want, it’s not for me.
“I lead this team, others participate in decisions about ownership.”
‘Whiners to winners’ – Nev on Man Utd’s Ten Hag transformation
Please use Chrome browser for more accessible video player
Gary Neville has praised Erik ten Hag for his impact on Manchester United since taking over.
Gary Neville praised Manchester United’s transformation under the Ten Hag after winning the Carabao Cup final.
Neville said: “This is about one man who has transformed the team from whiners to winners – is Erik ten Hag’s job done.
“There are players out there who shouldn’t play for Manchester United anymore, but have performed at a high level.
“He has passion and fight. There is a real chance to win trophies beyond this. He makes good decisions in games – his subs are critical to make sure he sees this game. It’s been a great last few months.”
Why winning the Carabao Cup is just the beginning for Ten Hag’s Man Utd
Erik ten Hag’s Manchester United transformation has brought him his first trophy and there could be more success.
As the players paraded their trophies in front of the Manchester United supporters at Wembley, Ten Hag watched quietly from the sidelines.
He likes to leave the spotlight to others, but the manager’s role in this success can hardly be underestimated. He has transformed Manchester United and this is just the beginning.
Read Nick Wright’s feature in full here
[ad_2]
Source link