Tuesday, January 28, 2014

Man United share value falls another 1.6%

The value of Manchester United has continued to fall on the New York stock exchange despite the arrival of club record signing Juan Mata.

Mata will make his debut at home to Cardiff in the Barclays Premier League tonight after being signed from Chelsea for £37m over the weekend.

But nervousness among investors about United’s modest results under Moyes continues to be reflected with the share price falling by another 24 points – or 1.6 per cent - yesterday.

On May 7 last year, the day before Sir Alex Ferguson announced his retirement as manager, the market capitol of Manchester United was $3.075 billion. On closing of the market yesterday it was $2.421billion, a drop of $654 million (£394m) .

This serves to underline the importance of Mata leading some kind of recovery on the field this season as United must finish in the Champions League qualifying places if the club’s value isn’t to suffer further and directly impact on Moyes’ summer transfer capacities.

Moyes said yesterday: 'Champions League football is imperative.

'But I think players will still join Manchester United for what the club stands for, what's it's been, it's history, the players who have come through here.

'So Champions League football is very important. But in the same breath this club has got its own standing and it can carry that.'

Last week, it emerged that United had been relegated from the leading trio of the world's wealthiest football clubs after being usurped by Barcelona, Real Madrid and Bayern Munich.

The annual list compiled by the accountancy firm Deloitte revealed that the English club had slipped into fourth place with annual revenues of £347.7m.

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