Manchester United’s share price slumped by 10 per cent on Monday following Saturday’s news that Sheikh Jassim was withdrawing his bid to buy the Premier League club.
’s share price slumped by 10 per cent on Monday following The Qatari royal has been one half of a two-horse race for United this year, a contest that started last November when current owners the Glazer family announced a “strategic review” at the club that included the possibility of a sale.
This popularity was easy to measure, as United’s share price would rise every time the media reported that Sheikh Jassim looked the likely winner in the race for the club, and fall when it looked like either Ratcliffe, or nobody, would win. And that is how Monday’s trading on the New York Stock Exchange played out. The share price closed at $20.06 on Friday but then dipped to $16.16 in pre-market trading, only to recover to just over $18 when the opening bell sounded at 0930 local time.
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