Manchester United shares suffered their biggest-ever one-day wipeout Tuesday after a report said the club's unpopular American owners would be taking it off the market.

The stock had plunged 18% by the closing bell, erasing just under $850 million from the soccer giant's total market capitalization.

That plunge came after the Mail on Sunday reported that the Glazer family would no longer be looking to sell, citing a source with a long-standing connection to the club's owners.

The UK publication added that the Glazers are holding out for a 10 billion pound ($13 billion) offer for the 20-time English champions, with neither Qatari Sheikh Jassim bin Hamad bin Jassim nor British billionaire Sir Jim Ratcliffe  offering close to that amount.

The Glazers bought Manchester United for just $790 million back in 2005 and started trying to sell the club in November 2022.

Sheikh Jassim and Ratcliffe – who is the founder of chemicals giant Ineos and the UK's richest man – are the only people who've made public bids.

In June, the Daily Mail reported that Sheikh Jassim had made a final "take it or leave it" offer that valued United at around $7.5 billion, with Qatari state media signaling his bid was likely to be accepted.

At United's first home game of the season against Wolverhampton Wanderers last month, the anti-Glazer 1958 Group protested the American family's failure to accept any offers for the club.

Manchester United did not immediately respond to Insider's request for comment.