Great Britain

Man Utd share prices sky-rocket by more than ELEVEN PER CENT after European Super League formation announcement

MANCHESTER UNITED's share prices have risen a whopping 11 PER CENT following news of their involvement in the proposed European Super League.

On Sunday, the Red Devils announced they've signed up to be part of the breakaway 15-team league, which Arsenal, Chelsea, Liverpool, Manchester City and Tottenham are also set to feature in.

And their involvement in the controversial plan - which many have dubbed a money-grabbing ploy - has already had a positive financial effect.

United's shares have risen 11.32 per cent from 16.17 at the close of trading on Friday to 17.98 on Monday lunchtime.

The Premier League big boys aren't the only one of the European Super League clubs to have benefitted from the announcement.

Italian champions Juventus also saw their shares prices rise a staggering 17 per cent from the close of trading on Friday.

Footy fans across the globe have reacted furiously to the proposed ESL.

But United's Executive Co-Chairman Joel Glazer insists the league will begin a 'new chapter for European football'.

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He said: “By bringing together the world’s greatest clubs and players to play each other throughout the season, the Super League will open a new chapter for European football, ensuring world-class competition and facilities, and increased financial support for the wider football pyramid.”

United legend Gary Neville has slammed the club's involvement and has called for the Premier League to deduct points from them.

He told Sky Sports: "In the wake of Covid, it's an absolute scandal.

"Manchester United and the rest of the big six clubs who have signed up for it should be ashamed of themselves.

"And Manchester United are drawing with Burnley. I must admit, I can't concentrate on the game, me.

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"They should be docked, all the six teams that have signed up to it.

"Deduct points off them all - to do it during a season, it's a joke."

He added: "Deduct them all points tomorrow, put them at the bottom of the league and take their money off them… it's a criminal act against football fans in this country.

"In the midst of a pandemic, an economic crisis, football clubs at National League level going bust nearly, furloughing players, clubs on the edge in League One and Two - and these lot are having Zoom calls about breaking away and basically creating more greed?"

European Super League explained: Which clubs involved, how many matches would be played and what about Champions League?

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