Glazers announces shocking news for Manchester United bidders amidst delay in club’s sale
The owners of the club aim to remain the owners of Manchester United, promising to double the club value in the coming decade
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The Glazers family are confident that they would remain the owners of Manchester United. The American business family firmly believes that the value of the club could be doubled in the upcoming years. The owners of the Reds are of this opinion to find investments that will allow them to remain as owners of the Premier League club while giving out part of their shares.
The Glazer family became the owner of Manchester United back in 2005. They have been the owners for more than a decade now. The club owners then owned by Malcolm Glazers took ownership in 2005 from Red Football Limited. The owners got control of the share from 3% to a massive 97% by 2005 to ensure a compulsory buyout. The club has faced a humongous amount of debt since this transfer.
The entrepreneurs called for auctions for ‘every form of strategic alternative’ to renovate Old Trafford for being the hosting ground of Euro 2028. The auctions have already taken place in two rounds while the third round is again called. Two bids were even organised for the sale which has now moved to the third phase.
The initial two rounds of bids saw Qatari banker Sheikh Jassim lead the bidding. He bid for a hundred per cent of the shares of the club with the amount of 5.4 million pounds as the highest bid. The club owners have now called for a third bid to see if there are new investors to put in more money for the club.
Glazer family net worth and how they became the owner of Manchester United
It is a history of how the American business family became the owners of one of the most successful clubs in the world. Malcolm Glazers in 2003 took over a small 3% share of Manchester United.
The owners then slowly took over another 15% which within a month became 57%. The Glazers, within 2005 were able to secure 97% shares of the club. This by default under English law gave them the default ownership of the club from 2005.
This was the most shocking ownership transfer English football has witnessed. The club after 2005 entered into heavy debts. The ownership transfer took place through loans. This ownership has dissatisfied a major chunk of United fans for long
The Glazers family headed by Malcolm Glazers officially bought Manchester United back in 2005. After the death of Senior Glazers, it is now majorly owned by Avram Glazer and his siblings. As per recent Forbes reports, the American millionaire has a net worth of nearly four billion pounds.
It now seems that the words of Finnish businessman Thomas Zilliacus on the bid process seem to be true. The owners want to raise a huge sum of money rather than sell it. The club owners also hinted it that they would give minority shares to investors. This investment would keep them, majority shareholders, keeping the owners of the club.
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Arpan Ghosh
(1403 Articles Published)