Manchester United’s share price on the New York Stock Exchange rose by almost nine per cent on Tuesday after the Premier League confirmed Sir Jim Ratcliffe’s minority investment had been ratified.
The value stood at $21.05 when the market opened and initially dipped before reaching as high as $21.55 in the hours after the announcement.
The price then sank but stabilised in the period before close, finishing on $21.31. The value is actually 10.69 per cent lower than it was this time last year, just before both Ratcliffe and Sheikh Jassim bin Hamad Al-Thani formally submitted their United takeover bids.
Ratcliffe’s investment is not seen as exciting as the ultimately-withdrawn proposal initially put forward by Al-Thani, with traders acting accordingly. READ MORE: Ratcliffe investment in United approved READ MORE: United yet to make key decision on Old Trafford The Qatari banker had submitted a takeover bid for 100 per cent of the club while Ratcliffe had sought a 69 per cent majority share before pivoting towards his minority stake.