Manchester Unite’s shares slump by a whooping 40%.
Real.ng has it in a confirmed report that a member of Manchester United’s biggest stakeholders has expressed his displeasure in the club’s recent poor financial investments in staff as the club’s stock price dropped last month.
It’s also on record that the club has failed to recoup on those shares in the last 12 months after the price on the New York Stock Exchange fell from around $ 26 ( £ 20 ) per share in September 2018 to just below $ 16 ( £ 12 ) in October 2019.
Baron Funds in a recent quarterly report claimed that the reduced value was due to a series of poor investments.
The company said, “ The stock price of Manchester United plc… has declined because of recent poor investments in players and personnel.”
“We feel, however , the club ’s on field success will eventually improve and its loyal fans , whose allegiance goes back generations , will continue to support their team . ‘The team is also taking steps to improve interaction with its supporters through digital experiences. Expiring contracts should be renewed at higher values, which will lead to increased profitability .”