Manchester United stock price plummets to lowest in over a year

More than £300 million had been chalked off of the Manchester United’s New York Stock Exchange (NYSE) value as they prepared for trading to commence on Wednesday.

The club are currently ranked as the most valuable football club in the world by Forbes.com, estimated to be worth over $4 billion dollars. On the NYSE since 2012, United have seen their share value fall from $19.92 to $18.19 in under a day, just three months since achieving a record $27.70.

This reduction, calculated at 8.68% sees the club’s stock fall to its lowest since late 2017. As yet, there has been no comment from senior figures at the club including the Glazer family, who it is understood are not panicking about the losses, citing an market-wide decline for the issue.

According to their quarterly accounts, United still expect revenue to be in the region of £615-£630 million for the year, which would be an 5% increase on last years £581 million.

Jose Mourinho’s team have failed to deliver so far this season with these results showing financially as United have seen a 27.2% fall in matchday revenue falling from an average quarterly £22.4 million to £16.3 million.

The Red Devils are the only corporation to see losses through the last trading month with Netflix falling 19.7 percent in comparison to United’s 14.5.

Despite United’s revenue decline executive vice-chairman Ed Woodward remains confident of the team’s financial and sporting success.

“Our financial strength enables us to continue to attract and retain top players and to invest in our academy,” Woodward said last week whilst addressing investors following the release of these financial results.

[columns]
[column size=”1/2″][blog type=”timeline” posts=”10″ cats=”102″ heading=”Man Utd” heading_type=”timeline” /][/column]
[column size=”1/2″][blog type=”timeline” posts=”10″ cats=”59″ heading=”EPL” heading_type=”timeline” /][/column]
[/columns]