Shares in Manchester United Plc (NYSE:MANU) have once again jumped higher after reports it could be nearing the end of its takeover saga with a £7.2 billion deal with either Sheikh Jassim and Jim Ratcliffe.
Rising more than 4% in early US trading, the football club’s latest lift wasn’t from comments made by anyone within the group but came instead from Cardiff City’s chairman Mehmet Dalman.
Speaking to the BBC about the difference in valuation between clubs in the Championship and the Premier League, he said: “I spoke to the owners of Leeds when we were there, and Championship clubs are valued at three times their revenue, give or take.
"Manchester United are going to announce their sale at £7.2bn-7.3bn, which is roughly 10 times their revenue.”
Spending close to ten months searching for a potential buyer, the Glazer family faced criticism after reports alleged they had halted the search process, being “disappointed” by the low valuations they received.
Remaining silent on the issue, several deadlines, issued by both sides of the takeover, have been and gone for the American family, leaving fan groups at Manchester United disgruntled about the lack of clarity surrounding the club's future, despite the new season starting on Monday night.
A spokesperson for the Manchester United Supporters’ Trust said: “As time goes on this feels less like a sale process and more like the Glazer family is holding Manchester United and its fans hostage.”
"The united message of fans is clear - sell the club. And if they do not intend to do so, at least have the courage to say that and explain what the charade of the last nine months has been about.”