Qatari Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe, the frontrunners for a possible Manchester United takeover, could yet acquire the club despite an 18% share price drop yesterday on the back of rumours that the club’s owners were backing out.

The club’s shares saw a record-breaking share price fall yesterday (Tuesday) on the New York Stock Exchange (NYSE), closing 18% down, after news began to circulate that owners the Glazer family would take the club off the market.

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Manchester United is now valued at roughly $3.2 billion, according to Bloomberg.

The Daily Mail reported citing sources that neither Sheikh Jassim or rival bidder British billionaire Sir Jim Ratcliffe had been informed that the deal was off the table.

The Glazer family, who are unpopular with large sections of the Man U fan base, bought their first shares in 2003 before gaining full control in 2005.

The club was originally listed on London Stock Exchange (LSE) in 1991 before being taken private by the Glazers and was then listed in New York in 2012.

Sheikh Jassim is the third son of the former emir of Qatar, Hamad bin Khalifa Al Thani. He is also the chairman of Qatar National Bank.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

imogen.lillywhite@lseg.com