Kieran Maguire issues Man United takeover verdict after £1.8bn update from New York
A Man United takeover looks less and less likely as their share price continues to plummet.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Red Devils’ value on the New York Stock Exchange.
As relayed by The Athletic last Tuesday (14 June), United’s share price has sunk below $11 for the first time since they went public in 2012.
The nosedive means £1.3billion has been wiped off United’s value in the last nine months alone, with the markets currently valuing the club at around £1.8bn.
Fan group The 1958 have recently stepped up their efforts to oust the Glazers, who they see as content to collect dividends while United flatlines on the pitch.
But Maguire insists that recent stock market activity means regime change is unlikely at Old Trafford any time soon.
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“Because of the way the shares are allocated, there is going to be no pressure in terms of changing management,” he told Football Insider’s Adam Williams.
“The Glazers have 90 per cent of the votes. It decreases the likelihood of a takeover. If there was any significant seriousness of a bid from Mr X, that would be reflected in the share price. The price would go up.
“You might take a punt at $14 if you think it’s going to go to $20. But the fact the price is falling is indicative of a lack of appetite among corporate bidders and also the Glazers’ reluctance to sell.”
United’s share price jumped as high as $20 following the signing of Cristiano Ronaldo in August last year.
But the failure to qualify for the Champions League as well as other factors have resulted in its dramatic decline.