Manchester United are in crisis again, yet the people with ultimate control of one of the world's most historic soccer clubs are nowhere to be seen. The club is described as a dysfunctional mess with no obvious leader and a manager waiting to be fired. The Glazer family, owners since 2005, have stayed silent and invisible while the team sits just two points off the bottom of the Premier League table.
The Glazers have never been popular with United supporters, having saddled the club with £600 million of debt after their leveraged takeover 21 years ago. Since February 2024, minority owner Sir Jim Ratcliffe has controlled soccer operations after paying £1.5 billion for a 28% stake. Despite promising to revive United's fortunes, Ratcliffe has instead taken the club into a tailspin. One source who watched Sunday's 3-0 defeat to Bournemouth said he "couldn't have masterminded a worse situation."
The Glazers, led by 59-year-old Joel Glazer, still hold nearly 72% of the club and full control of any sale through a drag-along clause. Ratcliffe's guaranteed minimum of $33 a share expires in February 2027. However, sources say there is no market for buying a Premier League team right now, particularly one with United's problems. Uncertainty over Manchester City's appeal against 114 charges is also deterring buyers.
United's stock was worth just $20.61 on the New York Stock Exchange last Friday, well below the $33 Ratcliffe paid. Sources suggest the Glazers are waiting for the right moment to sell, with possible triggers including a new Old Trafford stadium or City being relegated from the Premier League.
Source: ESPN Soccer · Summarized by HeadlinesBriefing