Manchester United’s stock market value dropped by more than £600million on Tuesday, according to Daily Mail.
This comes after the Glazers decided against selling Manchester United as they are not happy with the bids they have received for the club.
Manchester United’s value fell from £3bn to £2.4bn on Tuesday on the New York Stock Exchange, the first day of trading since the revelation as Monday was Labor Day in the States, a Bank Holiday.
It is the club’s steepest one day percentage fall on record.
The family made it known last year that they were open to offers for either all of the club, or a partial sale that left them with a stake.
Only Sheikh Jassim of Qatar and British entrepreneur Sir Jim Ratcliffe emerged as serious bidders but did not meet the valuation of the Glazers.
The Glazers now believe they will sell the club for a better price in 2025 when they hope the expansion of FIFA’s Club World Cup to 32 teams and the 2026 World Cup in the USA will have elevated interest in America, the home of most of the recent billionaires who have invested in the Premier League. The Glazers want to sell for around £7bn to £10bn.