MarketWatch First Take: Manchester United stock rises as takeover saga continues; Ineos chief Jim Ratcliffe confirms interest in club

by | Aug 18, 2022 | Stock Market

Shares of Manchester United rose 2.3% on Thursday as attempts to wrestle control of the Premier League club from the American Glazer family continued apace. The Glazers are coming under intense pressure to sell the iconic club amid mounting fan frustration over Manchester United’s underperformance. The club, one of the biggest names in world soccer, last won the Premier League in 2013 and is facing fierce criticism over its transfer policy. Last year, the Glazers also faced a major fan backlash over their planned involvement in the controversial European Super League.

Shares of operator Manchester United Ltd.
have fallen 1.8% this year, compared with the S&P 500 index’s
decline of 10.4%. These are turbulent times for the most successful team in the English top division, which it has won 20 times. A record 13 of these titles have come in the Premier League era, which began in 1992. Founded as Newton Heath in 1878, the club became Manchester United in 1902 and won the first of its 20 league titles six years later. However, the team is currently bottom of the Premier League after defeats in its first two games, which include a 4-0 hammering at Brentford on Saturday. Fans are also watching closely to see whether Portuguese superstar Cristiano Ronaldo remains with the club after the current transfer window closes on Sept. 1. The Glazers took control of Manchester United in 2005, and the club now has a calculated value of $4.6 billion, according to Forbes. See Now: Michael Knighton steps into the spotlight again as he eyes second Manchester United takeover bid Last week British businessman and former Manchester United director Michael Knighton made headlines amid reports he is planning a formal bid to buy the club’s operator. “The …

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