When did the Glazers buy Manchester United?

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Manchester United is one of the most decorated and successful clubs in world football.

Since the Premier League was formed in 1992, Manchester United have won the title 13 times, making them the most successful team in English football during that period.

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This success has resulted in the Red Devils becoming one of the most popular and marketable football clubs in the world.

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There has been harsh criticism of the club’s ownership during the post-Fergie era and supporters plan to stage a protest at their next home game against Liverpool on 22 August 2022.

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But who are the Glazers and how did they come to own Manchester United?

Manchester United fans hold a banner reading ‘Walk Out On 73 Glazers Out’ during a game against Brentford last season. (Getty Images)

Who are the owners of Manchester United?

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The Red Devils are owned by the late Malcolm Glazer’s six children: Avram, Joel, Kevin, Bryan, Darcie and Edward Glazer.

When Malcolm Glazer died in 2014, his 90 per cent stake in the club was split equally between the six children.

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Joel and Avram Glazer run the day-to-day running of the club, the other four children are directors of the football club.

When did the Glazers buy Manchester United?

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Malcolm Glazer began investing in Manchester United in 2003 and became the club’s majority shareholder in late 2005.

The Glazers first made their money from real estate before expanding into banks, health care facilities and television stations.

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Summary of events since the Glazer acquisition in 2005

Who were the owners of Manchester United before the Glazers?

John Magnier, 74 years old, is an Irish businessman who made most of his money as a stud farm owner.

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JP McManus also made his money from horse racing and is a racehorse owner. McManus also holds a large stake in betting company Ladbrokes.

The couple owned around 30% of the club’s shares and, together with manager Sir Alex Ferguson, invested in an Irish racehorse called the Rock of Gibraltar. The horse ran in Manchester United colors and, like the football club, enjoyed a period of sustained success at the time.

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Considered one of the best flat racehorses in the world, the horse retired in 2002. It was around this time that Magnier and Ferguson’s relationship began to crumble as the pair entered a legal battle over the horse’s shares.

As the conflict between Ferguson and the owners unfolded, Malcolm Glazer built up his stake in Manchester United and the 3% stake he owned in 2003 had risen to around 30% by the end of 2004.

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Glazer completed his acquisition of Manchester United in May 2005 by buying out Magnier and McManus’ shares.

John Magnier was the former owner of Manchester United (Getty Images)

How much did the Glazers pay for Manchester United?

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The American owners completed their takeover of Manchester United in 2005 for a total of £790m.

As the Glazers completed their takeover of Manchester United, they took out a loan of around £600m to capitalize on a buyout.

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The Manchester United takeover sparked anger from fans as the debt generated from the loan was transferred to the football club’s brand. The loans taken out by the Glazer family have cost the Red Devils around £60m a year in interest costs.

After the American takeover in 2005, a large proportion of disgruntled fans formed FC United of Manchester. During a takeover attempt by Rupert Murdoch and BSkyB in 1998, supporters first considered forming a breakaway club.

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FC United, nicknamed the ‘Red Rebels’, is a fan-owned club with 11 board members elected by members of the club. They currently compete in the Northern Premier League, the seventh tier of English football.

How much debt is Manchester United?

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It is estimated that Manchester United are currently over £500m in debt in 2022 as a result of the Glazer takeover that has taken place.

In the first 15 years of the Glazers’ tenure at Manchester United, the club is estimated to have paid over £800m in interest.

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What is Manchester United net worth?

According to that forbes Rich list, Manchester United is the third richest football team in the world with an estimated value of £3.7 billion as of May 2022.

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Only Real Madrid and Barcelona have a higher value than Manchester United.

The proposal of the European Super League

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Manchester United were among the founding members of the proposed creation of a European Super League in 2021, with Joel Glazer being unveiled as vice-chairman of the new breakaway league.

The European Super League was a proposed seasonal club competition in which 20 teams including the 12 founding members would take part. Backlash against the league formation announcement resulted in nine of the clubs involved, including all six English sides, withdrawing from the competition.

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Following the announcement of the European Super League, thousands of fans gathered outside Old Trafford to protest the formation of the European Super League.

In May 2021, fan protests resulted in Manchester United’s game against Liverpool being abandoned.

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