Manchester United share price as Sheikh Jassim withdraws from takeover bid

Manchester United’s share price has been slowly regaining ground this week.

The New York Stock Exchange closed on Friday with the value at $19.98 almost 24 hours before Al-Thani axed his 100 per cent bid for the club. The price had been finding its median all week having risen by five per cent since last Monday.

The current valuation of the Premier League club is more than 54 per cent higher than it was this time last year. Since the Glazers announced United was up for sale, positive reports regarding Sheikh Jassim's bid had previously seen the markets react favourably.

READ MORE: Sheikh Jassim withdraws from takeover process

READ MORE: United fans make Glazers point after Sheikh Jassim withdrawal

Upon the Sheikh officially entering the takeover race back in February, the share price flew up, eventually peaking at $26.84 with Sir Jim Ratcliffe’s confirmed bid adding momentum. It is expected that traders will act conversely now that the Qatari's offer is off the table.

Al-Thani had offered around £5billion for the entirety of the club, which is double its stock market value. It is said that he became disillusioned with the Glazers’ own valuation - thought to be at £6bn - after multiple rounds of bidding kept him waiting for a response about next steps.

He had pledged to wipe clear the debts amassed by the Glazers and invest in infrastructure, including in the women’s and youth teams. The bid appeared to be the most popular among supporters.

Meanwhile, INEOS chief Ratcliffe remains in the race. He has been considering changing tack and submitting a £1.5bn proposal for a 25 per cent share after admitting last month that he was keen on not walking away from the process empty-handed.

The markets had acted less