Manchester United have defied a challenging summer on the sporting side – which has seen no major transfer signings, an unsettled star player and a disappointing start to the Premier League campaign – by hitting a record high share price on the New York Stock Exchange.
The English giants’ value hit $24 (£18.50) on Monday, a rise of 14 per cent since the end of July, placing the overall value of the club at a record high of $4bn. The previous high came in September last year, when the share price hit $21.50.
The news will represent a major boost to chief executive Ed Woodward, if not to Manchester United’s fans. Woodward has come under fire for the lack of signings this summer, and has been accused of failing to adequately back the club’s manager, José Mourinho.
He has, however, continued to demonstrate his commercial prowess this year, signing a major partnership with Scotch whisky brand Chivas and a record shirt-sponsorship deal with manufacturing giant Kohler, worth $25m to the club.