Manchester United’s worth has plummeted by over £1.3 billion as its stock hit a new low on Monday.
Manchester United plc shares were selling at just 11.07USD at the close of trade on June 13, down 47% since October 2021.
United’s stock price declines are thought to be a reflection of the market’s wider economic worries, as well as the planned spending to replace the playing roster and renovate Old Trafford.
It means that since the Glazers took control of United in 2005, the stock has lost 21% of its value.
United’s net debt has climbed 11.8 percent from this time last year to £495.7 million, according to the club’s accounts released last month.
Despite the increased debt, dividends will be paid to stockholders on June 24, including the Glazer family.
Dividends are paid twice a year, in January and June, with the majority of them going to the six Glazer family members who own club shares.
The dividend paid to stockholders in January was over £11 million.