What Manchester United share price slump means for takeover

Manchester United's share price tumbled on Monday as the New York Stock Exchange reacted to Sheikh Jassim bin Hamad Al-Thani withdrawing from the takeover process.

The Qatari banker was understood to be the market's preferred bidder and it was previously deemed to be a positive sign for his eventual success when the share price rose. However, MEN Sport understands Sheikh Jassim saw the Glazers' valuation of the club as 'fanciful and outlandish' and thus decided to leave the process.

Now the door seems to have been left wide open for Sir Jim Ratcliffe to acquire a minority stake in the club. The INEOS founder is understood to be aiming to take on 25 per cent of the Reds in a deal which will allow the Glazers to remain at the club.

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This news has been met with a turbulent response from the Stock Exchange with United's shares down 12.21 per cent at the opening of trading on Monday to $17.61. However, what does this mean for the takeover? According to data analytics platform Alt Index, it is a sign that plenty of work still needs to be done in this process.

A spokesperson in their football finance sector explained: "Man United's share price on the New York Stock Exchange has fallen significantly during the time between trading closed on Friday to pre-market trading this morning from $20.20 (£16.63) to $15.53 (£12.78) - a 23 per cent decrease.

"During this time, Qatari businessman Sheikh Jassim has withdrawn his bid to purchase the 13-time Premier League champions which leaves British billionaire Sir Jim Ratcliffe as the reported front-runner to strike a deal with current owners, the