Man United value rose by £225m only hours after news of a COVID-19 vaccine broke: Report 

Premier League giants Manchester United are club to have gained most financially this week after news of a COVID-19 vaccine broke on Monday. Red Devils have reportedly lost around £4m for every game played behind closed doors at Old Trafford. However, Man United's shares rose by 9% in of a few hours after reports claimed that a COVID-19 vaccine has achieved a 90% success rate. 

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Man United value rises by a whopping £225m in a matter of hours after COVID-19 vaccine update

On Monday, reports claimed that a new COVID-19 vaccine was developed. developers - Pfizer and BioNTech - explained that it was a great day for science and humanity. It is believed that COVID-19 vaccine was tested on 43,500 people in six countries with zero safety concerns raised. treatment also showed a 90% effectiveness rate from preliminary analysis.

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As a result, Man United share price rose by 9% on stock exchange, with prospect of football fans returning to stiums taking a giant leap. Man United's share prices h an impact on club's value as well, which rose by a whopping £225m just hours after  COVID-19 vaccine was anunced. Only a few weeks ago,  20-time English champions released a financial statement showing that ir net debt h increased by 133% over past 12 months. 

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While speaking to MEN Sport, football finance expert Kieran Maguire explained how United could benefit most from COVID-19 vaccine. " stock markets don't like uncertainties, y are eir waiting for some good or b news, but I think w we can expect to see a stey rise in United's share price. y are certain winners of this progress being me."

Maguire n explained that football fans returning to stiums will be a huge financial boost for Man United, who are losing out on around £4m for each game that is played behind closed doors at Old Trafford. "Some markets react to things that aren't linked to football clubs but things outside as we just saw with anuncement of vaccine progress. This could also le to football fans returning over a period of time and club could n start benefitting from matchday revenue."

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Man United's fourth quarter and full financial year results showed club's revenue dropped by 19% from £627.1m to £509m as well as a loss of £23.2m compared to  £18.9m profit me last year, largely due to pandemic. United claimed that pandemic cost m around £70m in revenue mainly due to games being held behind closed doors and closure of club shop also contributing to a large chunk of that sum.

Im Credits - manunited.com