Manchester United share price falls amid Sir Jim Ratcliffe and Sheikh Jassim takeover update

Manchester United's share price on the New York Stock Exchange (NYSE) has fallen on the first day of trading since Sheikh Jassim withdrew from the race to purchase the Premier League giants.

Eleven months after the much-maligned Glazer family announced a strategic review to their ownership, billionaire and INEOS founder Sir Jim Ratcliffe is now expected to buy a 25 per cent stake in the club. It is thought to be worth £1.5billion to the Americans on the proviso they accept a revised offer from the Briton.

Qatari banker Sheikh Jassim is no longer in contention to become the new owner - after what was a whirlwind 24 hours or so - leaving the door ajar for Sir Jim to press forward with his plans to invest and step into the boardroom. But there is still further red tape to get through.

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Such an eye-catching update was always bound to have an impact on NYSE's prices. Reports from Bloomberg had already predicted a huge drop before the opening bell on Monday morning Stateside.

Sheikh Jassim had proposed a 100 per cent takeover before retracting his interest. It is understood he had bid over £5billion with the Glazer family thought to be holding out for closer to £6billion.

United were purchased by the Americans for £800million in 2005. They have been in control for 18 years.

Bloomberg indicated shares had dropped by 22 per cent in pre-market trading. They were valued at $19.74 towards the closing bell on Friday afternoon, before standing at $17.58 per share. Shares then increased to $18.17 by the time traders got down to business this afternoon.

Prices have fluctuated around the $19 and $20 mark across the