The seeds of current crisis were ultimately sown 20 years ago, when the Glazer family gained control of the club. Under two decades of ownership under the , United have gone from being debt-free to owing around £1billion, according to their latest financial results.
On May 12, 2005, Irish racing magnates John Magnier and JP McManus sold their 28.89 per cent stake in United to Florida-based businessman Malcolm Glazer. There were already concerns at United over the leveraged nature of the Glazer takeover, but nothing could prepare fans for what was to come under the family's controversial ownership.
Magnier and McManus famously fell out with Sir over the stud rights to the racehorse Rock of Gibraltar, with the grubby dispute, played out in public, ultimately leading to the Glazers owning United. With the shareholding from Magnier and McManus, the Glazers controlled 76.2 percent of United and delisted the company in June 2005, beginning two decades of the most toxic club ownership in the history of English football.
Since then, the Glazer family are estimated to have made £1billion from United to line their own pockets, with the club paying out the same amount in interest to facilitate their controversial leveraged buy-out of the club. Despite sustained protests and demonstrations from United fans over the past 20 years, the Glazers remain in overall control of the club, hated by the club's supporters as much now as when they took over.
and his INEOS team may be in charge of football operations at United, , but the Glazers remain in overall control, despite the best efforts of fans to oust them. Put simply, the Glazers – who profess to love United despite rarely attending games and having almost zero dialogue with the fans – are making too much money from one of the world's biggest clubs to walk away.
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Steve Crompton, from The 1958, a United fan group which continues to organise protest marches and demonstrations against the Glazers, said the campaign to rid them from the club will carry on until they achieve that goal.
“The Glazers have drained this club of millions,” said Crompton. “They’ve ripped the heart out of and divided the fan base. Two decades ago, they pushed away a loyal section of supporters — and they never came back.
“For 20 years, they’ve bled the club dry, taking dividends while the team and the stadium have been left to rot. We need a new stadium because they’ve neglected Old Trafford for two whole decades. They don’t care about the club. We do.
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“United fans love this club — and we hate the Glazers. They’ve poisoned the atmosphere, corrupted the identity, and infected this once-great institution with a toxicity that won’t begin to heal until they’re gone. That’s why, after 20 years, we’re still fighting. And we won’t stop until this toxic ownership is history. Not today, not ever.”
Journalist Chris Blackhurst, whose book, The World’s Biggest Cash Machine , looks at the Glazer ownership of United, said they will stay put as long as the revenue streams keep pouring in, but suggested they could sell if the revenue streams dry up.
“If you talk to the fans, they will say that the Glazers don't love the club,” said Blackhurst. “You hear Joel Glazer has an office that's a shrine to United and whenever they play, everything in Glazerland stops. That may be true, but he's never shown it.
“They don't go to matches, they don't communicate and now it's too late. Sir Jim Ratcliffe was seen as a white knight, this saviour coming in, but now he's got to watch that he's not just become a patsy for the Glazers.
“If you look at all the coverage since Ratcliffe came in, it's all about him – the Glazers are hardly mentioned, yet they're still the majority owners and still in control.
“The crucial thing for the Glazers is the amount of commercial sponsorship coming in. If that dips, and with it United's global reach on social media and the TV audiences, they may consider their options.”
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