Man United’s value drops by $500m
London - Turmoil in global stock markets, combined with a dreadful run of form on the pitch, has wiped $500m off Manchester United's value this year.
The football club's New York-listed shares have fallen from $17.81 at the end of 2015 to $14.60, dragging its value to below $2.5bn. Manager Louis van Gaal is under fire for his side's recent poor results.
Despite its struggles, the “Man U” brand continues to attract investment. Yesterday, the club signed a deal with 20th Century Fox to let the US studio promote its films, including Deadpool, followed by X Men: Apocalypse and Independence Day: Resurgence during home games at Old Trafford stadium.