Manchester United’s share price for the past three months is considering to be ‘soaring’, reports CNN.
The shares are three per cent up this year, and 35 per cent up over the past three months, recovering from a major dip.
CNN credit speculation the Glazers could sell Manchester United is the cause for the share price rising, amid a ‘tough market’ which is seeing large downturn.
Billionaire Elon Musk joked he could buy Manchester United last month, before a spokesperson for billionare Sir Jim Ratcliffe said he is willing to buy a stake, with a view to overall control.
Manchester United share price
CNN credit the recent ‘pop’ in United’s improved share price down to Musk and Ratcliffe, before turning to speculate over the Glazers next move.
The report says: “There is legit speculation that the team’s current US owners could put the squad — or at least a stake in it — up for sale.”
Manchester United fans have been protesting against the Glazers all season, most recently with anti-Glazer banners and chants against Sheriff Tiraspol.
Data from Macrotrends reports United’s current share price is 14.15 US Dollars, an improvement on the past 52-week average of 13.91.
The all-time high price was recorded in August 2018, at 20.86, reflecting how the current price has slumped amid a combination of United’s lack of on pitch success over the past four years, and a market depressed by a combination of Covid and wider economic problems.
CNN‘s report notes sports teams are still attractive propositions to would-be investors, and this was reflected in the scramble to buy Chelsea earlier this year when the club was put up for sale.
Speculation is ongoing that Sir Jim Ratcliffe is working behind the scenes on plans to buy Manchester United. The Mail reported the Glazers have a sell price of £3.75 billion, a figure which would be within the British billionaire’s cost range.
A report from French newspaper Le Parisien claimed last week Ratcliffe had an eye on PSG’s Luis Campos as a potential sporting director at United, if he is successful in a planned takeover.
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