Kieran Maguire shares Sheikh Jassim verdict after £600m Man United twist
The Glazer family will ‘ignore’ any stock market updates after Man United lost £600million in value this week.
That is the opinion of finance expert Kieran Maguire, who spoke exclusively to Football Insider about United’s stock market drop and the Glazers’ valuation of the club.
As revealed by Football Insider, the market value of the Red Devils dropped a staggering £600million on Tuesday (5 September).
Following reports that the Glazer family had taken the club off the market, United’s stocks plumetted 18 per cent over a 24-hour period.
After starting September with a share price of $23.66, trading on Tuesday closed with shares valued at $19.35 on the New York Stock Exchange.
It marked the biggest sell-off in United’s market history since they began trading on the NYSE in 2012.
Maguire believes the Glazers will not react to the stock market and instead hold out for a bidder to match their £10billion valuation of the club.
“The Glazers have got skin as thick as a rhino,” Maguire told Football Insider’s Sean Fisher.
“Any short-term movements in share price will be ignored by them.
“Man United’s shares are still a third higher than they were a year ago, so anyone who bought them in September 2022 is still looking at a very tidy profit.
“If the Glazers genuinely think that the club is worth £10billion then I think they will have to wait for a new party to come up with a bid of that value.
“There is no indication that either Sir Jim Ratcliffe or Sheikh Jassim are willing to match that price for a company that has lost about £300million since the Glazers acquired it in 2005.
“If they hadn’t taken out so many loans, that £300million loss would have been a significant profit.“
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