Manchester United's transfer market has suffered unprecedented twists and turns, with British media outlets reporting that the Grassa family, the giants behind Manchester United, are not happy with the offers made by potential buyers Sheikh Al-Thani and Ratcliffe, and therefore intend to pause the team's sale program. As a result, United's share price on the New York Stock Exchange plummeted by more than 18 percent in the early hours of Wednesday (6), marking the biggest one-day drop since it went public, and its market value instantly evaporated by 7 billion U.S. dollars (about 55 billion Hong Kong dollars), weighing heavily on investors and Red Devils fans.
Last week, it was reported that the Glasha family had agreed to sell United to Qatari "second-generation official" Sheikh Al-Thani for 60 billion pounds (HK$59.1 billion), but then came up with a new demand of up to 100 billion pounds (HK$98.6 billion), which is a far cry from the offers made by the two buyers. It is reported that the Glasha family, after economic and financial considerations, decided to postpone the sale and plan to try again in 2025 in order to attract more potential buyers.
Upon this news, Manchester United's share price fell in response, at one point dropping more than 21% and eventually closing down 18.22% at $19.35 per share, giving it a market capitalization of $31.55 billion (about $24.6 billion), well below the Glasha family's own valuation of £100 billion, and less than half of even the Sheikh Al-Thani offer. As a result, netizens, Manchester United fans, and legendary player Garry Nievey have voiced their displeasure and blasted the Glasha family's exorbitant demands.
