It’s always interesting to see how big time Manchester United news affects the stock market, as the Premier League giant is the only sports franchise in the entire world that is publicly traded on the New York Stock Exchange. The signing of Angel Di Maria is about as huge news as it gets. It was leaked that he has passed his medical and the club will make an official announcement shortly.
So how’s the market reacting to this?
First images of Angel Di Maria as a member of United:
As of 1:01 PM EST, MANU was actually trading down at close to 3%. On Monday, the stock closed at $17.86, and its last quote was $17.40, so it’s down 2.58% for the day. Now, we’ve known that Angel Di Maria was a done deal for a couple days now, so I’m guessing that knowledge of the Argentine winger moving to Old Trafford was already figured into the price.
Plus, there’s so many fiscal, operations, and economic forces at work here into the MANU share price that who knows what could be the more influential drivers in price. We’ll keep you posted.
Once United make the Di Maria signing official, perhaps it will send the stock price up? We shall see.
Paul M. Banks owns and operates The Sports Bank.net, which is partnered with Fox Sports, Yahoo! and the Chicago Tribune RedEye edition. He’s been a guest on news talk shows all across the world and been featured in hundreds of media outlets including NFL Network, Fox Sports 1 and ESPN2. Follow him on Twitter (@paulmbanks).