Manchester United’s share price has taken a significant hit as a result of the ongoing backlash against the club’s owners, the Glazer family. The Glazers have faced intense criticism from fans and pundits alike for their role in the failed European Super League (ESL) project.
Following the announcement of the ESL, Manchester United’s share price plummeted by 6.6%, resulting in a loss of around £200 million ($276 million) in market value. This sharp decline reflects the widespread discontent among supporters, who view the Glazers’ involvement in the ESL as a betrayal of the club’s traditions and values.
The Glazer family’s ownership of Manchester United has been a subject of controversy ever since their takeover in 2005. Fans have long criticized their financial approach, which has seen the club burdened with significant debt. The recent attempt to join the ESL has only intensified these concerns, with many supporters calling for the Glazers to sell the club.
The fallout from the ESL debacle has not been limited to Manchester United’s share price. Protests against the Glazers have erupted outside Old Trafford, the club’s iconic stadium, with fans expressing their frustration and demanding change. These demonstrations have led to the postponement of a Premier League match against Liverpool and raised questions about the future of the Glazers’ ownership.
In response to the backlash, Joel Glazer, co-chairman of Manchester United, issued an open letter apologizing for the club’s involvement in the ESL and promising to rebuild trust with supporters. However, many fans remain skeptical of this apology, viewing it as a mere PR move rather than a genuine commitment to change.
The Glazers’ ownership of Manchester United has always been a contentious issue, but the ESL fiasco has brought it to the forefront once again. As the club’s share price continues to suffer, the pressure on the Glazers to address the concerns of fans and restore stability at Manchester United is mounting. Only time will tell how this saga will unfold and what it means for the future of one of football’s most storied institutions.