Man Utd price plummets by over £550m as Glazers takeover U-turn causes turmoil
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Manchester United's share price has plummeted amid reports the Glazers will take the club off the market.
On Tuesday, Man United's market value on the New York Stock Exchange fell as much as 21 per cent.
Man United's share price is on track for its worst day after £550 million was wiped off the value.
It was reported on Saturday that the club's American owners will take the Red Devils off the market after bidders failed to reach their huge asking price.
The Glazers have received offers throughout a protracted negotiating period, with Sheikh Jassim and Sir Jim Ratcliffe only emerging as the two serious bidders.
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The Qatari banker wants to purchase the whole club while the British billionaire's offer would leave the Glazers with a minority interest.
Sources close to the situation claim the two bidders have been left frustrated as to the current owners' stance, making multiple rounds of offers and being given no indication of where they stood in terms of completing a deal to purchase Man United.
The Glazers are holding out for a whopping £10 billion.
According to The Daily Mail's initial report, the Glazers will wait until 2025 to try and sell the club as they hope financial and 'environmental' factors may attract more bidders and a bigger offer.
Okeke George Chijioke
When you don't see Okeke George blogging, he sure will engage him self in sporting activities.
