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

Premier League giants Manchester United are the club to have gained the most financially this week after news of a COVID-19 vaccine broke on Monday. The 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 the space 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. The developers - Pfizer and BioNTech - explained that it was a great day for science and humanity. It is believed that the COVID-19 vaccine was tested on 43,500 people in six countries with zero safety concerns raised. The treatment also showed a 90% effectiveness rate from the preliminary analysis.

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

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While speaking to MEN Sport, football finance expert Kieran Maguire explained how United could benefit the most from the COVID-19 vaccine. "The stock markets don't like uncertainties, they are either waiting for some good or bad news, but I think now we can expect to see a steady rise in United's share price. They are the certain winners of this progress being made."

Maguire then explained that football fans returning to stadiums 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 the announcement of the vaccine progress. This could also lead to football fans returning over a period of time and the club could then start benefitting from matchday revenue."

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

Image Credits - manunited.com