Manchester United have $60million wiped off market value as shares hit all-time low

Club’s share price drops 5% after Cristiano Ronaldo  asks to leave

Manchester United’s share price has dropped a further 5% to its lowest point in history since news emerged that star player Cristiano Ronaldo has asked to leave the club. 

The 37-year-old returned to Old Trafford last season - breaking shirt sale records and providing a commercial boost to the club in his first few weeks.

Though it was reported on July 3rd that the Portuguese striker wanted to leave the club - pushing the MANU share price down a further 5% from 11.01 to 10.42 on Monday. 

After a period of heavy investment in players, the team’s failure to pick up results on the pitch has seen the share price freefall - dropping 37% since October.


Anaam Raza, of Saxo Markets, said:

“Manchester United’s share price fell to an all-time low earlier this week following the news that star player Cristiano Ronaldo has asked to leave the club.

“Since the reports emerged, $60million has been wiped off the club’s market value with its share price falling another 5% to its lowest point since joining the New York Stock Exchange in 2012.

“The team’s failure to capture Champions League football this season has coincided with the downward trajectory of the club’s shares - falling 37% since October.

“Last year, the Glazer family sold $11million worth of shares, which has hinted at the long-time proprietors potentially making way for new owners.

“At this stage, one of the only ways the club can fill investors with confidence in the future is achieving better results on the pitch under new manager Erik Ten Hag, building hope that the club can return to the glory days of Sir Alex Ferguson’s era."

 


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