Man Utd share price fails to reflect fans' optimism after Jim Ratcliffe takeover
Manchester United's share price dropped 8.65 percent ($1.51) in the wake of Sir Jim Ratcliffe completing his 25 percent takeover.
The British billionaire's minority ownership was finally announced on Tuesday after the Premier League and FA ratified the deal. Statements from the club and Ratfcliffe were released as his INEOS group take control of all football operations at the club.
Even prior to official ownership, Ratcliffe had been making moves. Omar Berrada has been appointed as the club's new CEO - an ambitious pinch from Manchester City - and will take on the role after serving a period of gardening leave.
Dan Ashworth is also sought after in the role of sporting director, with conversations taken place, and he too has been placed on gardening leave.
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But none of the steady work from Ratcliffe, promises he's made, nor general fan excitement, is being shared by the financial market. Since February 14, with United shares at $21.50, the price has steadily dropped.
Still, the current share price is above what it was prior to the Glazers announcing they were open to a sale and investment opportunities. Days before the announcement, United shares were priced at $13.13.
After, they shot up to $22.75, peaking at $26.33 - the highest they have ever been - on February 17, 2023. Since then they have largely fluctuated but failed to get back above $22, dropping drastically further this month.
Ratcliffe and Erik ten Hag have met (Manchester United)The drop off is unlikely to worry Ratcliffe too much and he knows any improvement on the pitch will impact things off it. He has already been busy making promises to fans, including his desire to topple Manchester City and Liverpool's recent dominance.
"We have a lot to learn from our noisy neighbour (City) and the other neighbour (Liverpool)," he said. "They are the enemy at the end of the day. There is nothing I would like better than to knock both of them from their perch.
"He (Sir Alex Ferguson) was the first one who came out with that expression. I am in the same place as Alex - 100 per cent. He was fiercely competitive and that is why he was successful. We have to be the same."
Ratcliffe also discussed his frustration over Ashworth. United got the Berrada deal done quickly but Newcastle's stubbornness in holding out for a £20million fee is proving to be a roadblock.
Ratcliffe is already drawing on inspiration from Sir Alex Ferguson"I think Dan Ashworth is clearly one of the top sporting directors in the world," the new minority owner said: "I’ve no doubt he’s a very, very capable person,” Ratcliffe said on Wednesday after completing his purchase of a minority stake in United which will rise to 28.9 per cent by year’s end.
"And he’s interested in the Manchester United job because it’s probably the biggest sporting director job in the world just now, with the biggest challenge.
"It would be different if you were sporting director at Manchester City, because you’re just maintaining a level. With Manchester United, you’ve got quite a significant building job. I think it’d be a very good addition to Manchester United, but he needs to decide whether he’s going to make that jump.
"We’ve obviously had words with Newcastle. They clearly would be disappointed to lose Dan. I understand why they would be disappointed to lose Dan but but then you can’t equally criticise Dan because it is a transient industry. So we’ll have to see how it unfolds."
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