Glazers Considering Selling Minority Stake in Manchester United
The Glazer family is considering selling a minority stake in Manchester United, sources told Bloomberg’s David Hellier and Ruth David.
As reported by The Score, the family, led by brothers Avram and Joel Glazer, has no intention of ceding complete control of the club it has operated since 2005 to an outside investor, the sources added.
A spokesperson for British billionaire Sir Jim Ratcliffe told The Times on Wednesday that Ratcliffe would be interested in buying a minority stake if he also had the option to take full control of United in the future.
Ratcliffe’s Ineos chemicals group currently owns Ligue 1 side OGC Nice. A lifelong fan of United, the 69-year-old seems more interested than ever in buying a Premier League club. Ratcliffe made a late attempt to buy Chelsea for £4.25 billion in April but ultimately lost out to Todd Boehly’s consortium.
Fan-led protests in and around Old Trafford continue to target the Glazers, who have taken annual dividends out of the club since the late Malcolm Glazer, father of Avram and Joel, completed a leveraged buyout of the club 17 years ago. The takeover saddled United with debt and enabled the American family to take millions of pounds out of the club in shareholder rewards.
In June, the family received the bulk of the £11 million the club paid out to shareholders. At around the same time, United posted an 11.8% increase in debt, bringing it up to £495.7 million.
The Glazers value United at around $6 billion, sources told Hellier and David. The club’s market value on the New York Stock Exchange is significantly lower at around $2.2 billion.
