Manchester United share price rockets by 15% on New York Stock Exchange amid talk of a Jim Ratcliffe takeover or investment from Apollo… earning the Glazer family a reported $240MILLION since last week
- New reports about the ownership of Man United has seen their share price shift
- Share price of the club has now hit $13.77 on the New York Stock Exchange
- Britain’s richest man and US private equity firm Apollo have interest in United
Manchester United’s share price has increased sharply as reports of an ownership change heated up this week, with speculation mounting that the Glazers might bring in new investors or sell out completely.
British Billionaire Sir Jim Ratcliffe formally expressed an interest in buying the club this week, while Sportsmail revealed the Glazer family are in talks to sell a minority stake to US private equity firm Apollo.
United’s share price has now increased 15 percent (to $13.77) over where it stood a week ago, The Times said Thursday as the NYSE opened. This would amount to shares being worth $240m more than they were this time last week.
That figure has been helped by the speculation around a sale of England’s most famous football club, bizarrely triggered by Elon Musk’s series of tweets joking about buying the club earlier this week.
The Glazer family bought United in 2005, largely using loans as capital in a move that has made them deeply unpopular with the club’s supporters.
Manchester United’s co-chairmen Joel Glazer (right) and Avram Glazer (left) are reportedly open to selling a stake in the club
The New York Stock Exchange shows how United’s share price has increased to $13.77
Ratcliffe, Britain’s richest man, has said he would be interested in taking over the club fully if the opportunity presented itself.
‘If the club is for sale, Jim is definitely a potential buyer,’ a spokesperson for him said.
‘If something like this was possible, we would be interested in talking with a view to long-term ownership.’
US private equity firm Apollo have entered into exclusive talks to buy a minority share from the Glazers.
Sir Jim Ratcliffe formally expressed an interest in buying the troubled club this week
Although the family are not prepared to cede control of the club — brothers Avram and Joel are expected to keep their shares and oversee the day-to-day running of Old Trafford — other family members are understood to want out.
Also on Thursday, Reuters reported that Musk’s tweets are likely to draw scrutiny from the US Securities and Exchange Commission (SEC), given the share price movement.
Reuters say regulators would be interested if there was evidence Musk, the world’s richest man, purposely or recklessly tried to manipulate the market.
The Manchester United Supporters Trust have consistently called for the club to be sold and on Thursday urged any new prospective owner to commit to the ‘culture, ethos and best traditions of the club’.
The fresh calls for new ownership at the club come amid a dismal start to the season for United, who sit in last place after losses to Brighton and Brentford.
Elon Musk sent shockwaves through social media after tweeting ‘he’s buying Man United’
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