Shares in Manchester United have fallen by more than 12% following a report that the club's owners want bidders to raise their offers if the team is to be sold
Shares in Manchester United have fallen by as much as 12% following a report that the club's owners want bidders to raise their offers if the team is to be sold.
A source had told the Financial Times on Saturday that the Glazer family was not happy with the sums on the table following the conclusion of a soft deadline for bids earlier this month. The Glazer family, who took over the club in 2005 and are widely disliked by fans, announced in November that they would putThe market open in New York was the first opportunity investors had to register their reaction to the FT's report - and the prospect that any sale might fall through.At that level, the club's market value is around $3.77bn .
A number of other parties are understood to have submitted offers to the Glazers which would not see the family relinquish its majority control.Bidding war for Manchester UnitedInvestment offers, in return for a share of the business for example, could see the Glazers secure more cash to be able to fund a strengthening of the squad and improve the club's Old Trafford home.
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