The thing is, based on the stock the valuation seems nowhere near the previously quoted 8/9B:
Market Cap
$2.18B
Total Debt
$779.73M
Cash
$147.56M
Other
-
Enterprise Value
$2.81B
as per seekingalpha.com
Now, the stock price dropped around 40% after Covid hit so before then it was probably around 4-4,5B. But as you’ve rightly pointed out you’re not gonna be able to log onto robinhood.com and buy all Man Utd stock at once and become owner of the club, you’d need to broker a complex deal with the Glazer family and they’d probably put a much higher prize tag to the club.
So as you’ve already alluded to, you can’t really tell the value of the club based on the daily share prize. The closest and most quoted guesstimate is done by Forbes:
https://www.forbes.com/teams/manchester-united/?sh=69e1657113f9
No idea where the figure of 8/9B would fit into this.