Manchester United is owned by the Glazer family and their announcement in November that they would explore strategic options, including selling off the Premier League club has generated considerable interest among prospective buyers – most notably Sheikh Jassim Al Thani from Qatar.
Qataris have pledged their commitment to paying off Manchester United’s debt accumulated since Glazers purchased the club via leveraged buyout in 2005.
Who owns Man Utd?
The Florida-based Glazer family holds a majority stake in Manchester United. Many fans find their involvement to be contentious as many believe the Glazer family’s involvement may only serve to extort money from England’s most successful club.
The family also owns the NFL Tampa Bay Buccaneers as well as various shopping malls throughout the US through First Allied Corporation, a holding company for their various businesses. Family members Joel Avram Bryan and Edward are part of this ownership.
ESPN reports that Sheikh Jassim Al Thani and British billionaire Jim Ratcliffe may vie to take control of Manchester United, with Sheikh Jassim Al Thani favoring full takeover while Ratcliffe favours partial. Sources close to the family indicate they remain confident they can find outside funding to allow them to remain at Old Trafford. This investment would include overhauling commercial strategy as well as expansion into global markets.
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Why do they own Man Utd?
Manchester United are one of the world’s biggest clubs and have become internationally recognizable through their distinctive red and white colours and iconic name. However, ownership disputes arise regularly due to issues related to American Glazer family unfavourability among fans.
Malcolm Glazer’s 2005 takeover of Manchester United through Red Football Ltd was controversial due to being funded largely through debt. Since then, Avram, Joel, Darcie, Bryan, Kevin and Edward – Malcolm’s six children – have run United through Red Football Ltd.
Due to multiple bids for the club’s sale, no agreement has yet been made. The Glazers have stated their intent to explore all available strategic alternatives including new investment into or sale. One potential bidder for the sale could be British billionaire Jim Ratcliffe; however, any such attempt could prove disastrous as part of it would likely be funded with debt and his firm INEOS is already experiencing financial issues.
How do they run Man Utd?
The Glazer family’s ownership of Manchester United has long been met with protest from fans. But they have yet to relinquish their stake in the club despite still possessing 67% voting power through class B shares – meaning no full sale agreement would likely take place before 2022-23 ends.
Sheikh Jassim and Sir Jim Ratcliffe are competing to succeed the Glazer family but neither are willing to pay their estimated asking price of around PS6bn. Both men have submitted bids with Raine, an American bank handling the sale, but its outcome remains unclear.
Ratcliffe has long admired Ten Hag, so he likely wants him in charge. Unfortunately, due to their debt levels and potential takeover risks, any potential new owners must tread cautiously when spending on transfers and add more revenue streams that cover running costs; otherwise a full takeover could prove catastrophic.
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What do they plan to do with Man Utd?
No matter the outcome of United’s takeover bid, its new owners will want to invest heavily in infrastructure improvements. Rivals like City, Arsenal and Spurs all play in stadiums constructed this century while Liverpool is on track with their upgrade, meaning United will require significant financial backing if they hope to compete effectively in their league.
Sheikh Jassim is currently the owner of one of Qatar’s largest banks and could make an excellent choice as the next chairman for Manchester United. A passionate football fan himself, Sheikh Jassim could spend big to acquire top talent.
Sir Jim Ratcliffe is an eminent businessman who could bring a wealth of experience and commitment to Old Trafford as an avid supporter, as well as funds necessary to bring top talent through. Additionally, hedge fund Elliott Management holds an important stake in United and could offer additional backing – providing support from an outside source is needed for it to work effectively.
