Topics: Premier League, Manchester United, Glazer Family, Sir Jim Ratcliffe
The share price of the Red Devils fell by almost 10 per cent amid the wave of uncertainty.

Manchester United's share price on the New York Stock Exchange (NYSE) has plummeted by almost 10% with the Glazer family's plan to sell the club experiencing a 'delay'. The American owners have reportedly rejected two bids for the club from a group of Qatar investors headed by Sheikh Jassim and Britain's richest man Sir Jim Ratcliffe, as they fall short of their valuation. The rejection of the offers has led to uncertainty and speculation regarding the future ownership of the club.

The drop in share price follows a recent report from the Financial Times stating that Manchester United is not worth the $6 billion price tag slapped on it by the Glazer Family, and any potential buyer should not pay more than $1.6 billion to own the club. Another report over the weekend suggested that the initial bids from Sheikh Jassim and Sir Jim Ratcliffe were low, leading to further devaluation of the NYSE stock price.

As of Monday, Manchester United's stock was nearly a quarter below the record-high figure it attained when the news of the imminent sale went public, with losses since their February 16 all-time closing high amounting to about 23%. Still, against this backdrop, supporters of the club are anticipating an exodus that will see the Glazer family end their 18-year ownership.

Meanwhile, the idea of the Americans having a minority stake in the club is currently making waves. However some fans are not in favor of this. Having won a major trophy, the Carabao Cup, for the first time in six years, the appearance of the Glazer family at Wembley on Sunday left supporters with the impression that they may have witnessed the team win a title for the last time while they were at the helm of affairs.

The latest reports, nevertheless, have put a cloud of doubt over this presumption, with the indication being that club's American majority shareholders are in no hurry to sell the club. A host of top journalist in the UK are now reporting that United owners risk facing a backlash on a far larger scale should they make a U-turn on their decision. However, as of now, the future ownership of Manchester United remains uncertain.