Manchester United's Casemiro looks dejected as he walks past the trophy after collecting his runners up medal
Credit: Reuters Photo
By Joe Easton and Subrat Patnaik
Manchester United Plc shares are set for their steepest drop in more than eight months after the football club lost an all-or-nothing Europa League final against English rival Tottenham Hotspur.
The stock fell 7.2 per cent in New York premarket trading following the 1-0 loss to Spurs in Bilbao, Spain on Wednesday. The defeat means United misses out on a place in next season’s UEFA Champions League and a share of a €2.5 billion ($2.8 billion) prize pot.
The loss caps a poor year for United, which is heading for its lowest English league finish in 50 years. In a rare occurrence, two of the worst-performing teams in Europe’s top domestic leagues faced off in the final, with Brennan Johnson’s 42nd-minute goal ending Tottenham’s 17-year wait for a trophy.
Given its poor domestic league form, United will now play no European football next season. That will likely also affect ticketing revenue, commercial agreements and the club’s ability to attract new players.