Man Utd fans sing about the Glazer ownership of club
Manchester United have had £1BILLION wiped off its value by the coronavirus crisis in a huge blow to the Glazers. It’s a testing time for everybody across the world and that’s no exception to the Red Devils, who are one of the richest football clubs on the planet.
The stock market crash saw United’s share price fall to just over $12 on Monday, having been in excess of $20 a month ago.
The global pandemic that is the coronavirus has seen the stock market crash in general but, even so, it’s a massive blow to the club.
United had a market value of over $3b just after Christmas but now, in the wake of the current crisis threatening the world, they’re valued at $2b instead.
That means the Premier League giants tumbled a huge £826m in the space of just a few days on the stock exchange.
And what that means for the Glazers, and the possibility of them selling up, is something only time will tell.
They were ready to slap an eyewatering £3b price tag on the club amid interest from a Saudi Arabian consortium.
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"Every conversation we have is based on the long-term."
The Glazers were recently slammed by former Republic of Ireland star Kenny Cunningham - despite the ex-defender having no ties to United.
"What sticks in my craw is that when [Manchester United] release their financial statements, that big chunk of money [the Glazers] take out of the club becomes obvious,” he told Off the Ball.
"They just write themselves a cheque and that's got to be an absolute killer [for the fans]."
He then added: "Look at Manchester City or other clubs with people coming in and putting huge money into the club.
"Even Mike Ashley came into Newcastle United when they were in debt and straightaway, whoosh, wiped away the debt.
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"No, he's not spending much but I'd have much more respect for him doing that than the Glazers coming in and taking huge money.
"[Because] it's not [the Glazers'] money, is it?
“These things matter to me and it is like they've got their hands in the till.
"Every year the hand goes in there.
“It might seem like a reasonably insignificant amount in comparison to what the club is worth, but to take that money every single year, that worries me, it doesn't sit right with me."