The Glazer family’s hopes of achieving a record valuation for the sale of Manchester United have increased after the football club’s share price reached a four-year high.
Some analysts believe it could push the price of a takeover towards $10bn (£8.2bn), in excess of the American owners’ original $7bn (£5.8bn) asking price.
United’s share price has more than doubled since last summer, passing $24 this week to push the Premier League outfit’s market capitalisation to around $3.8bn.
It follows a marked improvement in the on-field fortunes of the 20-time English champions, who have won 11 of their last 12 matches in all competitions.
The Glazers’ confirmation in November that they were open to a full or partial sale saw shares rocket past the $20 mark for the first time since 2018.
Cristiano Ronaldo’s acrimonious departure from Old Trafford days later did not halt the rising valuation, despite his commercial worth to the club.
“Man United’s share price reached a four-year high on Monday at $24 per share, a significant rise from $11 per share in the summer – the club’s lowest point since joining the New York Stock Exchange in 2012,” said Anaam Raza, a spokesperson for financial investment platform Saxo.
“The club’s market cap now currently sits at $3.79bn, more than double when as low as $1.71bn in June. The rise on the stock market comes after the Glazer family announced they would be looking to sell the club in November.
“This week it was reported that the club could be sold before the end of the season with a number of potential suitors lined up, including Apple, Amazon and investors in Qatar.
“However, with the club’s stock rising, the originally rumoured asking price of $7bn could now be even closer to the $10bn mark – breaking all sorts of records and potentially pricing out a number of consortiums if the Glazers are adamant about selling at the highest price.”
Chelsea set a new record for the most expensive sale of a sports team when Todd Boehly’s consortium agreed to pay £2.5bn to acquire the club from Roman Abramovich in May.
That was eclipsed just weeks later when NFL franchise the Denver Broncos changed hands for $4.7bn (£3.9bn), which remains the benchmark.
United remain attractive to investors because of their global reach, despite posting record losses of £115.5m in their last full-year accounts.
Another US party is still considered the most likely buyer for either United or Liverpool, amid a continued influx of American investors in European football.
Paris Saint-Germain’s owners, Qatar Sport Investments, are also seeking a Premier League property, with Tottenham Hotspur a target.