Manchester United share price suffers biggest drop in over a year

By Daily Sports on November 22, 2018

Manchester United’s share price has suffered its biggest drop in over a year, with more than £300 million wiped off the club’s value on the New York Stock Exchange (NYSE) prior to the opening of trading on Wednesday.

United, listed on the NYSE since August 2012, had been valued by Forbes.com as the most valuable team in world sport at $4.8 billion (£3.75bn) in August this year.

But the club's share price dropped 8.68 percent in trading on Tuesday, falling from an opening price of $19.92 a share to $18.19 at the end of the day.

The fall has taken the value of the club to its lowest level since October 2017, having hit an all-time of $27.70 less than three months ago. While senior figures at United declined to comment on the price drop when contacted by ESPN FC, it is understood the club’s owners, the Glazer family, are relaxed about the situation, with sources saying pointing out an overall market slump in recent months that has affected the valuation of businesses across the spectrum.

United’s share price has dropped 14.5 percent during the past month’s trading. By comparison, the value of Netflix has fallen 19.7 percent during the same period.

United released their latest quarterly accounts last week, with figures showing the club's wage bill has risen by more than 10 percent compared to the same period (three months to Sept. 30) a year ago.

United’s revenue of £135m for the first quarter of the 2019 financial year was down from £143.7m, but executive vice-chairman Ed Woodward insisted on a call to investors that the club remains on course for record annual income.

“Our financial strength enables us to continue to attract and retain top players and to invest in our academy,” Woodward said last week. (ESPN)

•Photo shows Manchester United players

Source Daily Sports

Posted November 22, 2018


 

You may also like...
NFF Crisis: Giwa should give peace a chance...

Hazard seals Chelsea shootout win

Mbappe Pre-Selected For France’s Olympic Squad

Anthony Joshua Suffers Setback Ahead Usyk Rematch

Afcon: Nigeria Were Lucky to Score Last-Minute Goal...

Former cleaner and ex-electrician face off at World...

 

Latest News Osimhen sets Turkish transfer record, €70m above second Parker eyes Joshua rematch after Dubois bout Adesanya sends cryptic message to Boniface Oyome secures third consecutive IBB Ladies Open title African champion Opeyori sets sights on more titles Fasuba, Ogunkoya warn against over-reliance on NCAA athletes Nwaneri breaks Saka’s EPL record Seven potential additions to strengthen Eagles for W’Cup qualifiers Okocha remains Nigeria’s greatest player – actor Gavor Joshua backed to win another world title Foundation opens sports academy in Ogun UPDATED: Kenya, Ethiopia athletes win 2025 Lagos city marathon

 

Most Read Rangers International going, going . . . (55,300 views) Amaju Pinnick: A cat with nine lives (46,448 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,477 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,116 views) Sports Development: Zenith Bank on the zenith (44,078 views) Current issues in Nigerian sports: Matters arising (44,065 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (43,873 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,432 views) Olopade, BET9A wave of revolution in NNL (42,521 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,176 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,618 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (39,042 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media