Shares in Manchester United Plc (NYSE: MANU) surged again following speculations that the club might soon conclude its prolonged takeover drama with a potential £7.2 billion agreement, possibly involving Sheikh Jassim and Jim Ratcliffe.
With a 4% rise in early US market trading, the recent boost in the football club’s stock wasn’t prompted by statements from its own management but rather from Cardiff City’s chairman, Mehmet Dalman.
In a conversation with the BBC discussing the valuation disparities between Championship and Premier League clubs, Dalman shared, “When I interacted with Leeds’ owners, Championship clubs usually have a value pegged at around three times their revenue.
“Manchester United is poised to announce their sale for about £7.2bn-7.3bn, aligning it to nearly 10 times their revenue.”
After almost ten months of buyer hunt, the Glazer family faced backlash when whispers emerged suggesting they had paused the pursuit, ostensibly disheartened by the modest valuations pitched.
While the family has kept mum on the matter, several stipulated deadlines for the takeover have elapsed. This has incited frustration among Manchester United’s fanbase, especially given the impending start of the new season.
A representative from the Manchester United Supporters’ Trust remarked, “With each passing day, this situation increasingly seems less like a genuine sale effort and more like the Glazers are keeping Manchester United and its dedicated fans in limbo.”
Adding, “The collective plea from the fans is unequivocal – offload the club. And if they have no such plans, they ought to be upfront about it, shedding light on the perplexing events of the past nine months.”
