Man United share price plummets amid Sheikh Jassim takeover fears and Tottenham wait

Manchester United’s share price dropped dramatically on Tuesday and could have an indirect impact on Tottenham Hotspur.

The Manchester club saw their value plummet by more than £500m ($628m) as the historic side went from being priced at £3.15bn ($3.5 bn) to £2.55bn ($3.2bn) — an 18.15% drop — in a single day’s trading. Man United are listed on the New York stock exchange and saw share prices fall from $23.64 on Friday to closing at $19.35, once trading resumed on Tuesday. The club’s previous biggest drop in value was 3.8% in March 2020.

This was a result of a report from the Daily Mail, which stated that the Glazer family are set to take United ‘off the market’ after searching for fresh investment since November. It was claimed that both Sheikh Jassim bin Hamad Al-Thani and Sir Jim Ratcliffe have failed to meet the Glazers’ expected £10bn valuation, leading United’s ownership to pause their plans to sell the club.

In a further twist, it has since been reported that both bidders and the Raine Group, who are overseeing a possible takeover, have not been informed of a change in stance from the Glazers. This could inadvertently impact Spurs, given that Sheikh Jassim bin Hamad Al-Thani has previously been touted with an interest in the club, if he fails to purchase United.

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«They want the Premier League footprint. Somebody told me recently, they said that if the Qataris don't buy Man United, they'll be back and they might end up buying Tottenham,” ESPN journalist Mark Ogden said, back in May.

“He said, look, if you've got Manchester City owned by Abu Dhabi, you've got Newcastle owned by Saudi Arabia, if Qataris maybe buy