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Man United shares nose dives at the Stock Exchange

 

Manchester United’s share price took a nose dive Tuesday with the Premier League side’s biggest drop in a year wiping more than £300million off the club’s overall value.

The latest New York Stock Exchange (NYSE) figures has seen Manchester United’s share price drop to its lowest point since October 2017.

Their share price fails to $18.19 (£14.22) from $19.92 (£15.58) before the NYSE shut on Tuesday evening.

Despite the dramatic fall, United’s top brass have said the Glazer family are relaxed about the situation at the club.

They have put the slump down to the market rather than results affecting their value away from the football pitch.

On the pitch, United have struggled for form in the Premier League with the Red Devils languishing in eighth spot after 12 games.

United have lost six of their 12 top-flight games with their latest defeat coming at the hands of rivals Manchester City before the international break.

Meanwhile, their wage bill has increased by more than 10 per cent, despite the club’s poor start to the season.

Figures released on Thursday for the first quarter of 2018 show that ’employee benefit expenses’ for the three-month period were £77million, an increase of £7.1 million, or 10.2 per cent, over last year – which they say is ‘primarily due to investment in the first team playing squad’.

It means Mourinho’s men are set to earn around £308m this season, which gives them by far the biggest wage bill in the Premier League.

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