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Manchester United share price suffers biggest drop ever after rumours that the club is no longer for sale

Imagine if this whole takeover saga ends with no sale and United fans having to put up with god knows how many more years of the Glazers...

Danny Jones Danny Jones - 6th September 2023

Manchester United Football Club suffered its biggest share price drop this week after rumours that the business was no longer for sale began circulating – with more than £600 million wiped off their market value. Yikes.

After a number of reports over the weekend suggested that the much-maligned Glazer family are now set to take the club off the market after months of takeover talk that now looks to have stalled, Man United‘s share price closed at $23.66 on Friday and dropped to as low as $18.83 on Tuesday.

With the final figure on 5 September closing at $19.35, this was the biggest dip the club has ever seen (18.22%) in a single day since it became a publicly traded company back in 2012, breaking the previous record of a 13.8% drop set just a few years back on March 12, 2020, during the pandemic.

Speaking to Sky Sports, football finance expert Kieran Maguire explained exactly how the share price plummeted, stating that a lot of the club’s market value prior to the drop was actually being “propped up to a degree by speculators who thought there would be a full sale”.

As Maguire goes on to detail, many of those invested in the club would have been hoping to sell off their shares Man United shares for “between $27-30” once a potential buyout was complete but since there has been little movement on the long drawn out takeover, many simply decided to offload them now.

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The Price of Football podcast host also argued that the Glazers’ supposed second thoughts over selling United might have come not only from their two lead bidders — Sheikh Jassim and Sir Jim Ratcliffe — failing to meet their valuation but from seeing others like Barcelona just “selling off slices” of their club.

He also added that there is a confident assumption that TV rights deals will increase next year as they so often do and that new technologies like AI and VR could allow for “new ways to deliver content to Man United’s global fan base”.

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While we’re on the subject of digital technologies, these reports come in light of the suggestion the club’s media team and hierarchy are already editing out ‘Glazers Out‘ chants and their numerous offensive lyrics.

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Meanwhile, numerous controversies — Cristiano Ronaldo’s explosive exit at the end of 2022, the club finally dismissing Mason Greenwood after his criminal charges (albeit dropped) and, most recently, Brazilian winger Antony’s assault allegations which are now being investigated — certainly won’t have helped the club’s reputation or market value.

United issued a statement updating fans on the ongoing Antony situation on Wednesday 6 September, confirming that they are now looking into the matter alongside the investigation being carried out by Greater Manchester Police and Brazilian authorities, adding that they will be making “no further comments”.

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Despite insisting that they are considering the impact these claims will have on “survivors of abuse”, it is now being reported that the club have so far “resisted calls from domestic abuse charities” to suspend the 23-year-old.

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Featured Image — Stacey MacNaught (via Flickr)/Wikimedia Commons

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Two Trafford towns are set to see dozens of new EV charging points installed imminently

Danny Jones Danny Jones New EV charging points being installed in Trafford Borough

Two big towns on the border of Greater Manchester and Cheshire are set to see a fresh batch of electric vehicle (EV) charging points installed throughout their streets by Trafford Council very soon.

Local authorities have teamed up with engineering and infrastructure company Amey to roll out a series of new EV charging stations across Trafford, starting with Altrincham and Hale.

Dating all the way back to 2020, the collaboration with Transport for Greater Manchester (TfGM), the brand was tasked with helping improve sustainable travel across the area as the government body’s electric vehicle charging suppliers.

Steady improvements have been made across the 10 boroughs, but this particular update marks one of the biggest network upgrades that the likes of Alty and Hale have seen for some time.

Issuing a statement on Wednesday, 17 September, the firm – which specialises in managing, designing and maintaining complex facilities and transport infrastructure across the country – announced that they will “start the installation of EV charging points in Trafford in the coming weeks.”

It is expected that “up to 100 new public charges” will be integrated throughout the respective town centres and residential streets as the suburbs continues to push towards its sustainability goals.

As per Altrincham Today, Amey account director Anna Gornall said: “We’re excited to launch our first EV charge points in Trafford, working in partnership with Trafford Council (TC) to make electric vehicle charging more accessible to local communities.

“As the UK’s leading provider of energy transition and decarbonisation solutions, we’re well placed to use our existing expertise and resources to support TC in delivering a holistic public EV charging network for local communities.

“We’re helping residents make the switch, so everyone can plug in and power a greener Trafford.”

The country at large has various carbon-free initiatives, including the aspiration of achieving net-zero emissions by 2050; the electoral ward of Trafford itself continues to thrive in this field, having recently won environmental accolades, including 12 ‘Green Flag Awards’ this past July.

Peter Anderson, Managing Director of Transport Infrastructure at Amey, commented: “This is a pivotal moment in Amey’s energy transition strategy. By leveraging our extensive experience in whole lifecycle asset management, strong partnerships, and innovative solutions, we can deliver value for both our clients and members of the public who will use Amey’s electric vehicle charge points.

“Working with Trafford Council, we are making electric vehicle charging more accessible to local communities and helping residents make the switch to EVs.

“Amey is well-positioned to support emerging opportunities within this landscape, and we are delighted to be working with Trafford and other local authorities to provide the public EV infrastructure needed to achieve the government’s transition to net zero.”

As for Trafford Council, Corporate Director of Place, Richard Roe, went on to add: “We are delighted to be working with Amey on this project to bring more and better charging options to the people of Trafford.

“This is an extension to the current EV charging options in the borough and is great news for committed EV owners and those who are thinking about going electric.”

The incredible plans to build floating walkways over Manchester’s waterways
The new slate of EV charging points will be funded by City Region Sustainable Transport Settlements – and that’s not all…

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Featured Images — Publicity pictures (via Amey Ltd)

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Further disruption expected as more bus strikes announced across Greater Manchester

Emily Sergeant Emily Sergeant

Further disruption is expected as even more bus strikes have been announced across Greater Manchester this autumn.

It comes after the strikes set to place this month from 19 to 22 September were announced a couple of weeks back, and now a second round will take place towards the end of this month and going into early October.

In case this is the first you’re hearing of the upcoming industrial action, 2,000 workers who are employed by Stagecoach, Metroline Manchester, and First Bus Rochdale – all of which are firms among those that make up the bus part of the Bee Network – are due to walk out in a co-ordinated strike amid an ongoing pay dispute.

Unite the Union says all the firms are ‘highly profitable’ and it’s therefore ‘disappointing’ that workers are being denied a fair wage.

More strikes have been announced on the Bee Network this month / Credit: TfGM

At Stagecoach, around 1,000 drivers based across the Oldham, Stockport, and Middleton depots have rejected a pay offer of 3.5%, and 1,000 Metroline Manchester members will also do the same after turning down an ‘unsatisfactory’ below-inflation pay offer.

Workers at both Metroline and Stagecoach believe the offer doesn’t address years of low pay they’ve recieved, especially given the ongoing cost of living crisis.

Then, over at First Bus Rochdale, 110 members have rejected this year’s pay offer of 6%, as they feel this does not go far enough to address the fact they’ve had years of being paid less than their counterparts at other companies, and are still the lowest paid in the region.

Stagecoach, Metroline, and First Bus Rochdale, part of First Group PLC, are all firms which have seen a rise in profits in recent years.

2,000 drivers are set to stage strike action over two different periods / Credit: TfGM

The second round of strikes will now take place from from 30 September to 2 October.

Speaking ahead of both sets of upcoming strikes, Unite General Secretary, Sharon Graham, said: “These companies are very profitable but are putting greed over their hardworking members of staff.

“Further strike action will be extremely disruptive, however this is a dispute entirely of the bus companies’ making and they could solve it easily by coming back with a better deal.

“Our members involved in the dispute have Unite’s complete support.”

Unite Regional Officer, Colin Hayden, added: “The strikes this week as well as the further action we have called will cause travel chaos in Greater Manchester. However, it is entirely the fault of the employers involved, who have failed to address the issue of low pay and reward their staff accordingly.

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“Unite is not afraid to escalate to more strikes, which will only intensify going forward.

“It is time for the employers to make an offer that is acceptable to our members to resolve this disruption.”

Featured Image – TfGM

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