Manchester United supporters have been in a state of purgatory for nearly seven months since the Glazers put the club up for sale. Yet, the family still remains, inflicting slow torture on the fans while aiming to maximize their profits. This delay in the sale puts the club’s chances of improvement next season at risk. If I were a player’s agent considering a move to Old Trafford, I would wait to see if the Qataris, known for their deep pockets, take over first.
Recent speculation suggests that Sheikh Jassim bin Hamad al-Thani’s Nine Two foundation has taken the lead over Jim Ratcliffe’s Ineos bid with a final offer. However, the details of ongoing discussions remain opaque, and it is difficult to make firm predictions. Nevertheless, it seems like the endgame is near.
Once the fog of the takeover clears and new owners arrive at Old Trafford, it is crucial that we do not overlook or forget the indelible stain the Glazers have left on English football. It is astonishing to think that Manchester United was once a debt-free and profitable club before the Glazers burdened it with £540m of debt for their own gain. Additionally, it is incredible that the Premier League and the Labour government did not object to this leveraged buyout. Instead, Glazer used the club’s assets as collateral to fund the takeover, ultimately making United pay for their own acquisition and upkeep.
The Glazers’ actions can be likened to insect zombie predators that drain their hosts from the inside out before emerging renewed. This parasitic behavior is not conducive to the growth and success of the club.
Fortunately, the Premier League has finally recognized the detrimental nature of leveraged buyouts and voted to cap them at around 65% of a club’s value. It is a step in the right direction, although one wonders why it took so long to take such action.
Moreover, the Glazers’ management of the club has been subpar. Allowing both David Gill and Sir Alex Ferguson to leave in the same summer was a display of incompetence. Previously, the Glazers could rely on the team’s success on the field to divert attention from the club’s financial situation. However, in the past decade, there has been no place to hide.
Despite the decline in performance, the Glazer siblings have been taking millions of pounds out of the club since 2015. This includes a record £34m in the 2021-22 season, during which United finished sixth and went through managerial turmoil. While success should be rewarded, such massive payouts for failure seem unjust.
Since 2015, the Glazers have withdrawn a total of £154m from the club in dividends and share buybacks, making them the Premier League owners who have taken out the most money in the last decade. In contrast, other owners have invested significant funds into their clubs. This disparity highlights the cost of United’s decline when the team, stadium, and training facility are no longer world-class.
Additionally, the Glazers’ treatment of the club’s fans has been shocking. It is telling that they only began engaging with the Manchester United Supporters Trust in 2021, more than 16 years after acquiring the club, and only after the backlash against the European Super League. On the other hand, both the Qataris and Ineos have expressed their willingness to engage with the trust if they become the preferred bidders.
For now, United fans must continue to endure and hope for a change. Some believed that Avram Glazer’s extravagant trip to watch the women’s FA Cup final, paid for by the club, would signal the end of their ownership. Unfortunately, with the Glazers, nothing is ever that straightforward.
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