In June 2005, the Glazer family completed a leveraged buyout of Manchester United, acquiring the club for approximately £790 million. This acquisition introduced significant debt to a previously debt-free club, with initial borrowings around £540 million. Over the past two decades, the financial strategy employed has resulted in over £1.2 billion being directed towards debt interest, repayments, dividends, and associated fees.
Despite the financial burdens, the Glazers have seen the club's valuation increase, with estimates in 2025 placing Manchester United's worth at over £3.2 billion. Commercial revenues have also seen substantial growth, rising from £55 million in 2006 to £303 million in 2024. However, these financial gains have not consistently translated to on-field success, with the club experiencing its lowest Premier League finish in decades during the 2024–25 season.
The Glazers' approach has faced criticism from fans and stakeholders, particularly regarding the substantial debt and the extraction of dividends. In 2024, Sir Jim Ratcliffe acquired a 27.7% stake in the club and took control of football operations.
His involvement brought a £236 million investment aimed at infrastructure improvements, including plans for a new stadium. Despite these efforts, the club's gross debt remains significant, standing at £547 million in 2024.
As Manchester United navigates its future, the legacy of the Glazer family's ownership continues to influence both its financial health and its relationship with supporters. The club's journey underscores the complexities of balancing commercial success with sporting excellence in modern football.
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