Manchester United’s share price on the New York Stock Exchange is at a record low, having fallen around 40% since October 2021 amid the general economic climate and club-specific factors.
United’s first stock market flotation came way back in 1991, with added income from that exercise partially used to develop Old Trafford.
The Glazer family later took the club onto the New York market in 2012, selling off 10% of shares and using the proceeds to clear some of the accumulated debt and give themselves what the BBC described at the time as a ‘hefty payment’.
United’s continued stock market presence sees club chiefs give quarterly conference calls to investors and shareholders.
But the share price is currently at an all-time low. Football finance expert Kieran Maguire described the market as being ‘spooked’, not only by wider global economic factors, but also regarding the cost of rebuilding a failing squad and regenerating an increasingly dilapidated Old Trafford.
Overall, an astonishing £1.3bn has been wiped off the club’s value as a result.
On the pitch, United are seeking to restore some pride following the appointment of new permanent manager Erik ten Hag.
There has been a considerable squad clearout already since the end of the season, with Paul Pogba, Jesse Lingard, Nemanja Matic, Juan Mata and Edinson Cavani all leaving as free agents.
United are in talks to sign midfielder Frenkie de Jong from Barcelona, as well as Ajax defender Jurrien Timber, and remain interested in Ajax winger Antony. But efforts to sign Darwin Nunez and Ryan Gravenberch have seen them lose out to Liverpool and Bayern Munich respectively.
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Source : 90min