The supporters of Manchester United are euphoric because of the expected sale of a quarter of the shares by the hated Glazer family to British businessman Jim Ratcliffe. The aversion to the American owners grew steadily from 2005 onwards. An overview.
The controversial takeover
Malcom Glazer, son of Lithuanian immigrants, became a major shareholder in United in 2005. The businessman, who died in 2014, had made his name with a watch company, but his empire now included investments in the food industry, healthcare and media, among others. In 1995 he bought American football club Tampa Bay Buccaneers, which became national champions in 2003 and 2021.
United came into American hands for 790 million pounds (approximately 910 million euros). There was immediate incomprehension among supporters, because the takeover was largely financed with loans. As a result, Glazer saddled the English superpower with an enormous debt burden of hundreds of millions of euros, while the club had proudly been debt-free for decades.
Over the years, the Glazers – without having invested much of their own money – have made a lot of money from United. Through, among other things, the sale of shares and dividend payments, Americans were able to add hundreds of millions of euros to their own bank accounts without major risks.
Sons Joel, Avram and Bryan Glazer at a Manchester United match in 2005. Photo: Getty Images
Commerce is rampant
In June 2005, sons Avram, Joel and Bryan Glazer visited Old Trafford for the first time. It would prove to be a rare visit. Hundreds of angry United fans gathered at the stadium to express their dissatisfaction over the takeover. The Glazers were taken to safety in a police van.
In addition to the financial construction, the supporters also did not believe in the Glazers’ vision. There were fears that United would operate as a soulless for-profit company rather than as a football club with a drive for sporting success. In protest against commercialization, supporters even founded their own football club: FC United of Manchester.
United did indeed take steps commercially. The prices of season tickets were increased, but the salaries of the players also rose very quickly. United grew into a billion-dollar empire. Long-term mega deals with sponsors such as General Motors and adidas became the norm.
Jim Ratcliffe on the podium with race winner Lewis Hamilton after the 2021 Spanish GP. Photo: Getty Images
Super League debacle as low point
United supporters viewed the Glazers with suspicion, but the sporting achievements under Alex Ferguson (manager from 1986 to 2013) have silenced the grumpy and mistrust for a long time. After the departure of the Scottish trainer, criticism flared up again. His successors did not get further than winning a few national cups and the Europa League (2017).
The two-time Champions League winner had slipped to the sub-top of the Premier League. In an attempt to guide United back to Europe’s elite, the Glazers decided to join the Super League in 2021. This controversial project involved a virtually closed competition for top European clubs that was intended to replace the Champions League.
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Not only UEFA reacted with outrage, the supporters of almost every European superpower were also furious. Hundreds of angry United fans gathered inside and outside the stadium to spew their bile. Due to the storming of the field at Old Trafford, the match against Liverpool was canceled.
Super League vice-chairman Joel Glazer apologized in an open letter. “I would like to recognize the need for change, but this can only take place after in-depth consultation with the fans. We also recognize that the fans are anchored in the club and therefore must have an important role in the decision-making process.”
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Angry Manchester United fans storm stadium, match cancelled
Fans are pinning hopes on Ratcliffe
The United supporters had reason to cheer in November 2022. The Glazers announced that they were open to a sale of (part of) the shares. Two serious parties came forward: Sir Jim Ratcliffe, boss of cycling team INEOS Grenadiers and football club OGC Nice and part owner of Formula 1 team Mercedes, and the Qatari sheikh Jassim Bin Hamad Al Thani.
The sheikh recently withdrew because the valuation of the Glazers at approximately 6 billion euros was reportedly too much for him. The 71-year-old Ratcliffe agrees with the Americans’ valuation, but would only take over 25 percent of United. The boss of chemical group INEOS, from the Greater Manchester area, is prepared to pay 1.5 billion euros.
Ratcliffe promises a revamp of Old Trafford and Carrington training complex and huge investment in manager Erik ten Hag’s squad. According to English media, Ratcliffe will be in charge of technical matters, but the question is how much influence he will actually have. As former player Gary Neville puts it X put it: “How can a minority shareholder control the club to his will?”
Premier League matchday 9
Saturday 1.30pm: Liverpool-Everton Saturday 4pm: Bournemouth-Wolves Saturday 4pm: Brentford-Burnley Saturday 4pm: Manchester City-Brighton Saturday 4pm: Newcastle-Crystal Palace Saturday 4pm: Nottingham Forest-Luton Town Saturday 6.30pm: Chelsea-Arsenal Saturday 9 p.m.: Sheffield United-Manchester United Sunday 5.30 p.m.: Aston Villa-West Ham Monday 9 p.m.: Tottenham-Fulham
2023-10-21 03:10:00
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