Poor performance sees Manchester United's stock price down £400 million since start of season

Poor on-field performances coupled with the appointment of manager Louis van Gaal has seen Manchester United's stock price plummet by £400 million ($571 million) since the start of the 2015-16 Premier League season. Shares of Manchester United PLC (MANU) on the New York Stock Exchange were priced at £12.84 ($18.37) per share at the start of the season, but had dropped to £9.67 ($13.83) following a 3-0 defeat to Tottenham last weekend. The Red Devils, currently fifth in the league table and eliminated from this year's Champions League, have endured a tumultuous season, but the club remains remarkably profitable. Manchester United is set to overtake Real Madrid as the world's richest club after posting profits of £18.6 million ($26.5 million) in the last quarter. However, since the appointment of Van Gaal in summer 2014, the team's market cap has fallen by nearly $1 billion, Sky Sports reports.