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Category Archives: Manchester United Owner

Manchester United Ownership: From Glazer to Glazer

The Manchester United Football Club has seen it all – ownership changes, bankruptcy, name changes, peak, and downfall. The club has always passed the test of time and is today among the richest, most loved, and prestigious football clubs.

The MU club entered the stock market in 1990s. At that time there was a major power struggle between the manager, Alex Furgeson, and his horse-racing partners, J.P. McManus and John Magnier, who had become the club’s major stock holders.

The situation required directors to intervene and approach more investors so that MacManus and Magnier’s share could be reduced. This is when the Glazer family, which still owns the club, came into the picture.

Avram Glazer was looking for investment in the UK at that time period. He looked at MU as a good option and purchased the family’s first tranche of MU on 2 March, 2003 for around £9 million on a 2.9% stake.

Glazer family took more interest in the club as it saw a lot of potential in it. It slowly started increasing its investment by buying more shares. Glazer’s shares finally reached 3.17%, which required an immediate action from the board as the club was already facing the danger of a takeover.

However, Glazer continued to buy more shares clearing his intention. By December of the same year, he owned around 15% shares of the club. He also met the club’s chief executive, David Gill, to discuss his intention with him. Things started to get clearer when rumors of Glazer interrogating about a possible takeover became public.

By October 2004, he owned 30% shares, a threshold that required him to formally announce a takeover bid. Glazer continued to take interest in the club by buying shares from other major share holders, such as McManus and Magnier.

2005 saw a major change as Glazer successfully got 75% shares, allowing him to delist the club from the London Stock Exchange. Glazer continued to buy more shares reaching a 98% that gave him the ownership status and full control over the club. This also caused a compulsory buyout of all the remaining shares, making Glazer the only owner of the club.

Following the takeover, the club continued to thrive. Glazer continued to work hard and lead the club to the path of success. After this phase, the club won some major competitions and also signed a lucrative sponsorship deal with AIG.

As everything improved, so did the ticket sales. Manchester United FC tickets started selling like hot cakes resulting in a huge increase in the club’s revenue. Glazer family’s other members, Kevin, Edward, and Darcie also got appointed as non-executive directors in 2006, making it clear that the Glazer family had full control over the club.

However, regarding ownership, there was also a major issue of the loan that the Glazer family had taken to finance the club. The loan that was taken against the club’s assets was divided between the club and the family. In 2011, there were rumors of the family having to sell its share to payback a PIK loan, as the official statement announced that none of the club’s assets were used to do so.

All the changes resulted in several hate clubs too with “Love United Hate Glazer” becoming a famous slogan of fans who loved the club, but wanted different owners to run it. Rumors are that a club called “Red Knights” is planning to overtake the club by pooling in billions of dollars from the supporters. People are waiting breathlessly to see what the future holds for MU, which without a doubt is a hot club.

Nevertheless, those who wish to enjoy their time watching their favorite players bring their best can still buy tickets from http://www.onlineticketexpress.com/sports/football/manchester-united-tickets.

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Malcolm Glazer: The Controversial Owner of Manchester United FC

Malcolm Irving Glazer is an American businessman and the owner of the Football Club Manchester United. He is also the president and chief executive officer of First Allied Corporation and owns Tampa Bay Buccaneers, a National Football League team in Tampa, Florida.

Glazer belongs to a Jewish family and is fifth among seven siblings. He inherited his father’s jewelry business and at that time he had just $300. He started to expand his business by buying mobile homes in 1970 in Florida. He then became the president of First Allied Corporation, a company in US. Glazer’s first attempt at a corporate takeover was in 1984, when he failed to buy a bankrupt freight rail company for a bid of $7.6 billion. After two more consecutive failures in buying a corporation, he finally succeeded to buy a bankrupt company name Zapata formerly owned by George H. W. Bush.

Malcolm Glazer, due to his interest in sports purchased the Tampa Bay Buccaneers, a National Football League franchise for a record $192 million after the death of Hugh Culverhouse, the former owner.  For the first several years, the Buccaneers experienced improved success on the field during Glazer’s ownership before going through a decade of continuous losing seasons. Bucs won the first Super Bowl in 2002 under Coach Jon Gruden. But when Glazer purchased Manchester United FC in 2003 all his funds and concentration diverted towards it and the Bucs went into a TV blackout. The blackout streak continued into 2011.

Between 2003 and 2005, Glazer gradually bought out the shareholders in the English Premier League soccer team in a deal that valued the club at around $1.47 billion. The takeover was fiercely opposed by many fans of Manchester United, who organized themselves in the form of independent Manchester United Supporters, partly because the Glazer takeover saddled the club with a large debt and interest that comes with it.

Many of these fans got together to set up a new club called F.C. United of Manchester. The new protest club has had success which including three successive promotions in three years while attracting gates of well around 2,000 fans each week, with a record attendance of 6,023.Anti-Glazer songs and chants are still regularly heard at Manchester United and F.C. United games.

More support for the protest movement came from David Beckham when he put on a green and gold scarf which had been lying on the pitch. Although Beckham subsequently denied that his action had any significance, it was taken by many to indicate that he was in support of the anti-Glazer protest and was described as “an iconic moment” by the Manchester United Supporters Trust.In early 2011, Glazer refuted a rumor that he was going to sell Manchester United for a reported £1.6 billion to the Qatari royal family, stating that the club was not for sale at any price.

Malcolm Glazer now lives in Palm Beach, Florida. He is married to Linda and has five sons and one daughter. Three of them (Joel, Bryan and Edward), are vice-presidents in First Allied. He runs a wide-ranging business empire that includes shopping centers and nursing homes.

On April 16, 2006, Glazer suffered a stroke causing impaired speech and loss of mobility in his right arm and leg. After spending much of the intervening period in the hospital, Glazer suffered a second stroke in May 2006. Controversies might go on and on but the love of fans for Manchester United FC will make them buy more and more Manchester United FC tickets.

To buy a ticket online please visit:  http://www.onlineticketexpress.com/sports/football/manchester-united-tickets.

 

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