Glazer family’s announcement of possible sale sees Manchester United stocks rise
Manchester United have seen their stocks rise after the Glazer family announced their intention to possibly sell the club, according to The Wall Street Journal.
The Old Trafford side saw their shares see a 19 per cent jump in a 20-minute period ahead of the report about the intention of the owners on Sky Sports. It also led to the New York Stock Exchange halting it for a few minutes.
Yet, the shares ended the day at almost 15 per cent higher. And it kept on rising in the after-hours. The Premier side are one of the biggest in the world, primarily due to their historical achievements.
After acquiring the majority shares, the Glazers took over the club 17 years ago. However, their reign has been marred by the club’s demise on the footballing stage over the last decade.
Since the departure of Sir Alex Ferguson, United have hardly had any major success at the domestic and European stages. We last won the Europa League in 2016 under Jose Mourinho.
Unfortunately, the Red Devils have never really had a say in the Premier League race since last lifting it in the 2012/13 campaign. And the club’s management have severely underperformed.
Former chief-executive Ed Woodward oversaw most of our business in the transfer market for the majority of the last 10 years. And the English accountant and investment banker evidently failed in his role.
United now seem to be going in the right direction under Erik ten Hag. While the Dutch manager had a shaky start to the campaign, we have found our feet once again. But the gaffer will evidently need patience and backing in the transfer market to take us back to the top.
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The Glazer’s willingness to sell the club will come as a relief for most fans. However, we also need to be wary of whether those taking over as owners have the club’s best interest at heart.