Man Utd’s stock market value drops by £1bn due to coronavirus crisis

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Manchester United has had a £1billion wiped off its value by the coronavirus crisis.

The stock market crash saw its share price plummet to just over twelve dollars on Monday, having been in excess of twenty dollars a mere two months ago.

The drop is in line with the stock market crash prompted by the global pandemic but it is still a startling fall.

Having had a market value of well over $3billion just after Christmas, it is now valued around the $2billion mark.

Over the past 12 months, there have been persistent rumours of Saudi Arabian interest, with the owners Glazers reportedly ready to put a price tag of £3billion on the club.

© Action Images via Reuters Manchester United has had a £1billion wiped off its value by the coronavirus crisis

The Glazers takeover in 2005 was said to have cost £790million.

If and when they do sell up, it will still be for a huge profit and they have consistently taken big dividends out of the company.

And in the last set of financial figures, the net debt put on United by the Glazers stood at £384.5million.

Meanwhile, there was some good news for United fans as the club triggered the clause extending Nemanja Matic’s contract by a year on Tuesday.

© Robbie Stephenson/JMP/REX United have triggered the clause extending Nemanja Matic’s contract by a year

The 31-year-old swapped Chelsea to rejoin Jose Mourinho at Old Trafford in 2017, signing a three-year deal with the option of an additional season.

United have moved to keep Matic at the club by invoking that clause, although an agreement could yet be reached to keep him at the club even longer.

The Serbia international has scored four goals in 109 appearances for a club he looked likely to leave at the start of the season, with speculation rife about his future.

But Matic has kicked on since the turn of the year and impressed for United, playing 22 times in all competitions this term.

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