Manchester United midfielder Paul Pogba. Photo / AP
Manchester United midfielder Paul Pogba. Photo / AP
One of the world's richest sports teams has had more than $500 million wiped off their value.
English Premier League giants Manchester United saw their shares fall 8 per cent to US$18.19 ($26.70) when the New York Stock Exchange today, reports The Sun.
The crash represents a £300m ($563.1m) wipe-out.
In July, Forbes estimated Manchester United value at US$4.123 billion, giving them the honour of being the world's most valuable football team, and second most valuable franchise in the world, trailing only American football's Dallas Cowboys, who were estimated to be worth US$4.800b.
The Red Devils have experienced a volatile few months off the pitch.
Less than three months ago, the club's share value rose to a record US$27.70 and has fluctuated since.
Manchester United has been linked to a potential takeover by Crown Prince Mohammad bin Salman — whose family is worth around £850b, according to The Sun.
