Manchester United is in turmoil! From a sporting point of view, the Mancunian club is having a moribund start to the season, marked by two defeats in four Premier League games and a disappointing 11th place. In addition to this poor form, the financial health of the Red Devils worries across the Channel. Indeed, the British press reported on Wednesday that the market capitalization of Manchester United plc, the company that controls English training, lost more than 700 million dollars (650 M€) in one day.
In its current edition, the DailyMail reported that the Glazer family, majority shareholder of the Mancunian club since 2005, would have given up selling its stake, judging the offers submitted too low. While the two potential buyers, INEOS founder and CEO Jim Ratcliffe, as well as Qatar Islamic Bank (QIB) chairman Sheikh Jassin Bin Hamad al-Thani, have both submitted close offers valuing the club at 5 billion pounds while the Glazers demanded just under 10 billion pounds to sell MU. According to sources close to the Glazer family, discussions with potential buyers are continuing.
