Manchester United Owner: The Glazer family has been in charge of Manchester United since 2005, when they acquired the club from JP McManus. However, there is a possibility that the club will have new owners this year.
The six children of Malcolm Glazer, who passed away in 2014, inherited the ownership of the club. They are Avram, Joel, Kevin, Bryan, Darcie and Edward. Avram and Joel are the most involved in the club’s affairs. They are responsible for the management and direction of the club.
When did the Glazers become the owners of Manchester United?
The Glazer family began their journey of owning Manchester United in March 2003, when they bought some shares in the club. According to the Metro, they paid £9m for 2.9% of the club and increased their stake to 15% by the end of 2003 and 30% by October 2004.
They completed their takeover of Manchester United in May 2005, when they bought out John Magnier and McManus. They raised their stake to 50% and triggered a mandatory buyout of the remaining shares. The total cost of acquiring the club was around £800m.
However, the Glazer family’s takeover was not without controversy. They used loans secured against the club’s assets to finance their purchase, which put the club in a lot of debt. Sky News reports that Manchester United are still around £500m in debt, while they were debt-free before the Glazer family took over in 2005. Malcolm Glazer, who died in 2014 at the age of 85, never visited Old Trafford after buying the club.
The Glazer family’s ownership has faced a lot of opposition from Manchester United fans, who have staged several protests over the years. The most recent one was in April 2021, when hundreds of fans stormed Old Trafford and forced the postponement of a game against Liverpool.
What have Manchester United won since the Glazers became the club’s owners?
Before the Glazers became the sole owners of Manchester United in 2005, the club had already achieved a lot of success in England. They had won eight Premier League titles between 1992 and 2003, making them one of the most dominant teams in the country.
The club continued to win trophies under the Glazers’ ownership, including five more Premier League titles, the last one being in 2013. That was also the year that Sir Alex Ferguson, who had been the club’s manager since 1986, retired. Since then, the club has struggled to replicate their previous glory.
Manchester United have also won some prestigious titles in Europe and the world since the Glazers took over. They won the Champions League in 2008, the FIFA Club World Cup in 2009, the Europa League in 2017, the FA Cup in 2016 and the EFL Cup three times (2010, 2017 and 2023).
What other sports franchises do the Glazer family own?
The Glazers have a diverse portfolio of sports franchises, including Manchester United and the Tampa Bay Buccaneers. The latter is an American football team that competes in the National Football League (NFL) and is based in Florida. Malcolm Glazer acquired the team in 1995 and passed it on to his family after his death.
The Tampa Bay Buccaneers have achieved two Super Bowl titles under the Glazer ownership, one in 2002 and another in 2020. The latter was a historic feat, as they became the first team to host and win the Super Bowl at their own stadium. The team was led by the legendary quarterback Tom Brady, who joined them in 2020.
The Tampa Bay Buccaneers are managed by Joel Glazer and Bryan Glazer, who are the owner and co-chairman and the co-chairman, respectively. They are responsible for the daily operations of the team, according to the team’s official website.
Avram Glazer, another member of the family, ventured into the cricket world in 2021, when he bought a T20 cricket franchise in the United Arab Emirates, as reported by Sky Sports. He did so as the chairman of Lancer Capital, a private equity firm.
Why does the Glazer family want to sell Manchester United?
Why are the Glazers selling Manchester United? Debt is the main reason. When they bought the club in 2005, it had no debt. But the deal that former vice-chairman Ed Woodward advised them to do added more than £500 million of debt to the club.
The fans were angry because Malcolm Glazer used a leveraged buyout to fund most of the takeover. This means he borrowed money against the club’s future value to buy it. This also means he has to pay more than £60 million every year in interest.
Some experts say that the buyout has cost the club over £1 billion in interest and other fees over the years.
The club’s debt increased by 133 per cent to £474 million by the end of 2020 because of the Covid-19 pandemic.
The club also pays a yearly dividend since 2015, and most of it goes to the Glazers. The club also moved its tax registration from Old Trafford to the Cayman Islands in 2012.
The club’s 2018–19 financial report showed dividends of £23 million. About £18 million of this went to the six Glazer siblings.
The club’s income has more than doubled since 2005 and Forbes ranked United as the third-most-valuable football club in the world last May. This is mainly because of the many and varied commercial deals that the Glazers signed.
The club was fourth in the 2023 Deloitte Football Money League, which ranks the clubs with the highest revenues in world football. It was behind Liverpool, Real Madrid and Manchester City.
The club had record revenues in its latest report, breaking its previous record from 2019, despite having a difficult few years.
Manchester United’s Next Owners after Glazers
Sir Jim Ratcliffe, a British billionaire and a Manchester United fan from Oldham, already owns two football clubs and a Formula 1 team through his company Ineos. He owns OGC Nice and Lausanne-Sport in football and Mercedes in Formula 1.
He faces strong competition from Qatar’s Sheikh Jassim, who has made a bid that includes a pledge to invest heavily in the club and the area around it.
Finnish businessman Thomas Zilliacus also showed interest in buying the club and giving some shares back to the fans, but he seems to have dropped out.
The Glazers might not sell the whole club, though. They could sell only a small part and keep the majority of the ownership.
How much is the Glazer Family Worth?
Glazer Family Net Worth: At the end of the US trading session recently, they had a value of $2.5bn (£2.1bn).
How much is Manchester United worth?
The Independent recently revealed that the Glazers might sell their entire stake in the club for about $6 billion (£4.9bn). This would be much higher than the price paid for Chelsea, which could reflect Manchester United’s position as the most prestigious football club in England.
This would also make it harder for many potential buyers to afford the club, including some of those who tried to buy Chelsea in the summer.
Manchester United Takeover
A group of rich Qatari investors are interested in buying Manchester United, according to the Daily Mail on February 7. They think they can make an offer that no one else can match.
But on March 10, Sky Sports reported that the group led by Sheikh Jassim bin Hamad Al Thani have told United they will not pay more than they think the club is worth. They believe the club is worth around £4.5bn, while the Glazers want £6bn. This could make it hard to agree on a price, but Sheikh Jassim has enough money to buy the club.
The Glazers are willing to sell the whole club, which could give them an advantage in the talks. But Sheikh Jassim is not afraid to walk away from a deal if he is not happy with it. He has done this before with other Premier League clubs.
The group also thinks they will not have any problem with UEFA rules, which do not allow one owner to have two teams in the same competition. Both United and PSG, which is owned by Qatar Sports Investment, are likely to be in the Champions League next season. But the group that wants to buy United is different from QSI, so there would be no conflict.
On February 17, Sheikh Jassim’s bid became official. His team also visited Old Trafford, the day after another bidder, Sir Jim Ratcliffe. Sheikh Jassim was not there himself, but he sent his trusted advisors. They had a tour of Old Trafford and 10 hours of meetings and presentations with Arnold and other United executives. They said the day was ‘positive’.
Sheikh Jassim increased his offer to close to £5bn, according to BBC Sport on May 16. He did this to try to beat Ratcliffe. He used the Raine Group to negotiate for him. He made a new offer in early June, with a deadline of June 9. But three months later, the talks between the Glazers and Qatar seemed to end for good.