Glazers eye £8bn jackpot
MANCHESTER UNITED owners the Glazers are hoping to land themselves the biggest profit in sporting history as they seek to leave Old Trafford.
The Florida-based owners, who loaded the club with debt to take control for just £790million back in 2005, want £8billion for the Premier League giants.
If the Glazers get their asking price, that would make United the most expensive sporting franchise ever to change hands – doubling the near £4bn paid for NFL outfit Denver Broncos by Walmart heir Rob Walton back in the summer.
United’s record price tag could well put off interested parties in both the UK and USA, with British billionaire Sir Jim Ratcliffe, above, on record saying that he felt United were overpriced even at £5bn.
Ineos founder and lifelong United fan Ratcliffe remains many supporters’ dream buyer
given his Failsworth roots and shared passion for the team on the pitch.
But other potential investors, including the Red Knights consortium led by Lord Jim O’Neill, could re-enter the fray, having seen interest rebuffed by the Glazers in the past.
The club is also likely to attract the interest of Middle East money.
The Glazer family are understood to be unanimous in their desire to capitalise on what they feel could be the top of the market.
Until now Joel and Avram Glazer, above, were the two out of the six Glazer siblings who wanted to hang on to the Premier League club.
But the uncertainty over United’s Champions League income stream, and the need to invest heavily in the infrastructure at Old Trafford and Carrington has convinced them that now is the time to take a profit. Manchester United Supporters Trust (MUST) urged the Glazers to put the interests of the club first and not simply take the highest offer.
In an open letter to the owners, MUST said: “Now is the time for change in the best interests of Manchester United.
“The last 17 years has been characterised by debt and decline – on the field and off it. “You can do two things for your legacy – the first is to prioritise the best interests of Manchester United Football Club over the financial interests of the selling shareholders.
“Our club, at this moment in time more than ever, needs the right ownership – and that should be the priority rather than simply the highest bidders and highest return for you.
“Second, we implore you to move with speed. In football, any sort of hiatus or uncertainty is disastrous.”