Manchester United shares suffered a record 1-day rout, plummeting 18% on report the group's owners won't sell
- Manchester United's stock price suffered a record one-day fall on Tuesday.
- Shares plummeted 18%, wiping over $800 million off the soccer giant's market value.
Manchester United shares suffered their biggest-ever one-day wipeout Tuesday after a report said the club's unpopular American owners would be taking it off the market.
The stock had plunged 18% by the closing bell, erasing just under $850 million from the soccer giant's total market capitalization.
That plunge came after the Mail on Sunday reported that the Glazer family would no longer be looking to sell, citing a source with a long-standing connection to the club's owners.
The UK publication added that the Glazers are holding out for a 10 billion pound ($13 billion) offer for the 20-time English champions, with neither Qatari Sheikh Jassim bin Hamad bin Jassim nor British billionaire Sir Jim Ratcliffe offering close to that amount.
The Glazers bought Manchester United for just $790 million back in 2005 and started trying to sell the club in November 2022.
Sheikh Jassim and Ratcliffe – who is the founder of chemicals giant Ineos and the UK's richest man – are the only people who've made public bids.
In June, the Daily Mail reported that Sheikh Jassim had made a final "take it or leave it" offer that valued United at around $7.5 billion, with Qatari state media signaling his bid was likely to be accepted.
At United's first home game of the season against Wolverhampton Wanderers last month, the anti-Glazer 1958 Group protested the American family's failure to accept any offers for the club.
Manchester United did not immediately respond to Insider's request for comment.