I am sure the Glazers have had analysis/empirical studies and evidence to show that United despite everything is still more valued than Chelsea. Theer are different complex financial valuation models you can use. Its not something that you pluck out of thin air or based on emotions du jour.
And being a publically listed company, the data/information is a lot more accurate than an entity that's privately owned
- Value investors use financial ratios such as price-to-earnings, price-to-book, debt-to-equity, and price/earnings-to-growth to discover undervalued stocks.
- Free cash flow is a stock metric showing how much cash a company has after deducting operating expenses and capital expenditures.
I think the Chelsae fan's association owns the Stanford Bridge pitch too? And yet its worth $4.3billion.
It obviously doesn't go on feelings! But investors don't only just look at the valuation models either, growth is a big factor when investing, its hard to see how much growth United have since the Glazers have milked every avenue dry, especially when new investors will have to plough loads of money (and time) into the infrastructure and playing staff, and at 6b it won't stack up for most investors.
I even doubt the wealthy individuals like the Saudis etc would want to invest in an asset that much - you're looking at about 8-9billion investment over a ten year period.