MANCHESTER UNITED share prices have plummeted after Sheikh Jassim pulled out of the running to buy the club.
Sir Jim Ratcliffe is poised to purchase a 25 per cent stake for £1.4billion, leaving the Glazers with majority control.
AFPThe Glazers will retain majority control of Manchester United[/caption]
Sheikh Jassim has withdrawn his takeover bid
GettySir Jim Ratcliffe is set to buy a 25 per cent stake in the club[/caption]
United’s share price has dropped significantly since Sheikh Jassim pulled out
That news has had a negative impact on United’s stock price, which fell by 22 per cent overnight.
A share in the club is now valued at £13.98 – the lowest level since the Glazers announced they were putting the club up for sale last November.
The price of shares soared upon that announcement as the Qataris emerged as the frontrunners to buy the club.
Since then the cost of stocks has fluctuated amid the ongoing uncertainty of the takeover process, with Sheikh Jassim and Ratcliffe both submitting bids worth £5billion earlier this year.
The price dipped significantly in August following the news that the Glazers intended to only sell a minority stake in the club.
Last month shares fell by a whopping 21 per cent after the news broke that the Glazers may not sell, with reports claiming the Americans wanted £10bn to sell the club outright.
It is believed the Glazers will look to re-list United for sale in 2025 when they anticipate that “environmental and financial factors may attract more bidders”.
That is bad news for many Red Devils fans who have been calling on the owners to leave the club.
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United fans have already staged multiple protests demanding the Glazers leave – so news of them staying is set to trigger more outrage, leading the club to step up security measures for the Champions League clash with Copenhagen.
United are also at home in the derby with Manchester City the Saturday afterwards and there has been talk among supporter groups of a walkout or potential boycott.
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