Featured Image Credit: Getty
Topics: Manchester United, Football, Premier League
Luke Davies
Manchester United’s majority shareholders, the Glazers, are reportedly preparing for a bid from foreign investors.
The Glazer family completed their takeover of Manchester United during Sir Alex Ferguson’s tenure back in 2005.
Their ownership has coincided with the Red Devils winning five Premier League titles, three FA Cups, five League Cups, one UEFA Champions League, one Europa League and a FIFA Club World Cup.
However, a large portion of the club’s fanbase has called for change throughout the Glazer’s reign, with several citing United’s growing debt as part of the reason for their feelings.
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The American owners have loaded the club with debt, with United having previously been essentially debt-free since 1931, according to The Independent.
As reported by BBC Sport last month, United confirmed their debt was now £637m after taking on an extra £105million to help fund summer transfers.
Overall, if you combine United’s total borrowing, they owe in excess of £1billion in various forms.
In December 2024, INEOS owner Sir Jim Ratcliffe increased his minority stake in United to 28.94 per cent, having previously purchased 27.7 per cent in 2023 and has also taken control of football operations at the club.
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Ratcliffe has made and followed up on his pledges to improve the club’s facilities by investing £50m into upgrading their Carrington training base.
However, results on the pitch have been poor by United’s standards, with the side having finished 15th in the Premier League – a record low – last term, as well as enduring a mixed start to the current campaign.
Some fans may have got excited when reports and an X post from Saudi promoter Turki Alsheikh said: “The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor – I hope he’s better than the previous owners," earlier this week.
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It is still unclear who Alsheikh was referring to, but a report from the Daily Star has claimed that the Glazers are ‘open’ to offers exceeding £5bn for their 48.9 per cent stake in the club.
So, if the Glazers do sell, how would this impact Ratcliffe?
In 2023, the Telegraph reported on various clauses raised in Ratcliffe’s takeover.
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One clause, known as a drag-along agreement, could essentially force Ratcliffe to sell his shares after 18 months at the club. The clause also prevents minority shareholders from blocking a sale and ensures a sale can proceed when a buyer wants to acquire 100% of the club.
So, the Glazer family can sell their majority stake, causing Ratcliffe to sell his minority stake on the same terms.
The Mail reported that the aforementioned clause was activated on August 13.
Ratcliffe fended off interest from Qatari businessman Sheikh Jassim in 2023, but there appears to be reported interest from the region once more.
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As reported by the Mail, a consortium based in the United Arab Emirates is considering making an offer to the Glazer family and is said to have approached ex-players about undertaking roles as ambassadors.
However, there is nothing to suggest that there has been contact with the United majority owners.