- Manchester United stock has fallen by double-digit figures since its all-time high in 2018.
- Missing out on a Champions League spot will see revenues take a hit in fiscal 2020.
- BAMCO, Inc has identified the problem, but control of the soccer club is in the hands of the Glazer family.
Manchester United’s (NYSE: MANU) largest shareholder, BAMCO, Inc, has blamed the soccer club’s transfer policy on the stock slump, reports Manchester Evening News.
According to the asset manager, the decline in the soccer club’s fortunes on the New York Stock Exchange has been as a result of the “recent poor investments in players and personnel.” BAMCO, Inc owns approximately 32.44% of the listed Class A shares at Manchester United. This is about 13,161,086 shares. At the prevailing stock price of $16.87, the stake is worth about $222 million.
Top 10 shareholders of Manchester United | Source: CNN
Stars that dimmed at Old Trafford
Since the end of Sir Alex Ferguson’s reign at Manchester United, the number of signings that have disappointed could constitute a team. Under current manager Ole Gunnar Solskjaer, Brazilian Fred Rodrigues easily tops the list. The midfielder who was signed from Shakhtar Donetsk has underwhelmed at Old Trafford, proving unworthy of the $67.3 million investment.
Though he was signed under Jose Mourinho, Romelu Lukaku’s form fell after his first performance. By the time Solskjaer stepped in as manager, the striker who initially cost Manchester United nearly $100 million failed to easily find takers. He was eventually loaned to Inter Milan.
Other ‘poor investments’ that Manchester United has made since the exit of Ferguson include Angel Di Maria. The winger who cost the soccer club $77 million in 2014 turned out to be an expensive error.