Popular football club Manchester United (NYSE: MANU) slid in pre-market trading after a Daily Mail report stated that the Glazer family could take Manchester United off the market. This comes after failing to get an asking price of £10 billion for the club.
The family had said in November of last year that they were open to offers of a complete or a partial sale of the club. Following the news, the only two serious bidders that emerged were Sheik Jassim of Qatar, who wanted the whole club, and Sir Jim Ratcliffe, who was looking to get a majority stake in MANU.
According to the report, the bidders were, however, frustrated with the Glazer family’s stance as multiple rounds of bidding gave “no indication of where they stood.” The report stated that the Glazers may again put the club up for sale in 2025 “when they hope financial and ‘environmental’ factors may attract more bidders.”
Analysts remain cautiously optimistic about MANU stock with a Moderate Buy consensus rating based on one Buy and one Hold.
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