Manchester United bounce back

Manchester United's share price on the New York Stock Exchange bounced back by the close of trading.

Last Updated: 08/05/13 at 22:26 Post Comment

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Sir Alex Ferguson's retirement announcement caused an initial dip in Manchester United's share price on the New York Stock Exchange but by the close of trading it had bounced back.

From an opening price of 18.77 US dollars, the shares fell by as much as 4.5 per cent to under the 18-dollar mark and then revived significantly.

The value of a share at the close of trading was 18.44 dollars, 33 cents down - a 1.76 per cent drop - and still higher than the share price on Friday last week.

A club's manager is perhaps the single most important appointment in terms of its success on the field - which in turn affects its commercial success off the pitch.

In its prospectus ahead of the New York stock market flotation last August, United warned that its business was dependent on such success.

"We are highly dependent on members of our management, coaching staff and our players," United said in its IPO prospectus.

"Any successor to our current manager may not be as successful as our current manager."


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