Turmoil in global stock markets, combined with poor form on the pitch, has wiped $500 million (£345 million) off Manchester United’s value this year.

The football club’s New York-listed shares have slumped 18.5 per cent from $17.88 at the end of 2015 to $14.52, dragging United’s value to below $2.4 billion (£1.6 billion).

Fans have turned against manager Louis van Gaal for their side’s poor run of results which threatens the team’s qualification for the Champions League.

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