Man United’s share price plummets in response to Sir Jim Ratcliffe’s imminent partial buy-out – Man United News And Transfer News

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Manchester United FC share prices on the New York Stock Exchange (NYSE) have significantly plummeted in pre-market trading following news that Sir Jim Ratcliffe is a step away from purchasing 25% of the club.

On Saturday, news broke that Sheikh Jassim Bin Hamad Al Thani had withdrawn his bid to complete a full takeover of United after he failed in his efforts to reach middle ground with the Glazers over a fair price.

This opened the door for Sir Jim to swoop in, and the decision to bring the INEOS billionaire on board as a minority investor is expected to be ratified by the United board during a meeting on Thursday.

Sheikh Jassim’s proposal was thought to be worth around a total of $8b.

It was a full cash bid and contained the promise of clearing the club’s current debt and pumping significant funds into revamping the stadium and United’s Carrington training complex.

Sir Jim’s breakthrough is finally expected to bring to an end a protracted 11-month sale process that was kickstarted by the much-maligned Glazers in November 2022.

The British businessman is expected to immediately take charge of the Red Devils’ sporting operations.

According to Bloomberg, United shares have dropped by 22 per cent in pre-market trading as a direct response to the significant development in the takeover.

The shares were valued at $19.74 towards the closing bell on Friday afternoon.

In the last few weeks, prices have revolved in and around the $19 and $20 mark. Full trading on NYSE started again at 2.30 pm on Monday, UK time.

Ben Jacobs relays that at the moment during trading, the share prices are down 8%, at just under $18.5 per share.

Manchester United shares fell 22% during pre-trading. Now down 8% during trading (was a 13% fall at one point) at just under $18.5 per share. Price slowly recovering ($20.06 last closing price) following news of Jim Ratcliffe’s potential 25% deal & Sheikh Jassim’s withdrawal.🔴 pic.twitter.com/2Fg7PLmazb

— Ben Jacobs (@JacobsBen) October 16, 2023

The prices are slowly recovering with all signs pointing to Sir Jim coming in at Old Trafford with the goal of attaining full control of the club in the near future and finally seeing the Glazers part ways with United.