Manchester United: How ‘scavenger’ Glazers bought club – and left Old Trafford ‘rusting’ and in a ‘mess’

Published

3 years ago

November 23, 2022

admin

It’s nearly 20 years since the American tycoon Malcolm Glazer bought his first stake in Manchester United – now his family’s controversial tenure at the club could finally be coming to an end.

Chants of “Love United, hate Glazers” are regularly heard at Old Trafford and news that the owners are exploring a sale will delight many United supporters.

Here, Sky News tells the story of the Glazers’ ownership of the Premier League club and explains why the family have been so unpopular with fans – even attracting criticism from one of their own star players, Cristiano Ronaldo, who left the club with immediate effect earlier today.

Glazers buy Man Utd – and saddle club with debt

Malcolm Glazer owned the Tampa Bay Buccaneers, an American football team that were then the Super Bowl champions, when he began his investment in United in March 2003.

At the time, United had dominated the Premier League and were one of the most successful clubs in the world, winning an array of silverware under Sir Alex Ferguson.

Glazer took full control of United in June 2005, but the deal was hugely unpopular with fans because it was financed primarily through loans secured against the club’s assets.

Within a year of the leveraged buyout, Glazer had two strokes and his six children – Avram, Joel, Bryan, Kevin, Darcie and Edward – ran United, all of them sitting on the board of directors.

The Glazers’ £790m takeover loaded United with debt that is now around £500m. The club were debt-free before the takeover.

Fans have been enraged by the more than £1bn it has cost the Glazers to service the debt, while cashing in themselves by receiving dividends from the club.

Fan protests and FC United formed

The Glazer family’s first visit to Old Trafford ended in ugly and violent scenes in June 2005 as police clashed with supporters who had effectively barricaded United’s new owners inside the stadium.

Joel, Avram and Bryan Glazer reportedly had to be smuggled down the players’ tunnel and out of the ground in two police tactical aid vans for their own safety.

The Glazers’ controversial takeover prompted a group of disaffected Man United supporters to form a new football club.

FC United began their first season in 2005-06 and now compete in the Northern Premier League Premier Division, the seventh tier of the English football league system.

Success on the pitch

Under the continued management of Sir Alex, United initially remained successful under the Glazers’ ownership, winning five Premier League titles in seven seasons between 2007 and 2013.

With star players Ronaldo and Wayne Rooney, United enjoyed a prolific three-year spell from 2007 to 2009, winning three Premier League titles, a Champions League trophy and the League Cup.

But fans’ anger at the Glazers remained.

Green and gold scarf campaign

In 2010, United fans began donning yellow and green scarves to protest against the Glazers’ ownership.

United are known for their famous red shirts, but the club was originally founded, in 1878, under the name Newton Heath Lancashire and Yorkshire Railway Football Club, which played in a bold yellow and green strip.

At the height of the protests, former United player David Beckham put on a green and gold scarf that was thrown on to the pitch during his return to Old Trafford with AC Milan in 2010.

That night, Joel and Avram Glazer were inside the stadium but Beckham later distanced himself from the protest, saying the ownership of United was “not my business”.

Red Knights takeover bid

A group of wealthy supporters were expected to make a bid of about £1bn for United in 2010, despite United insisting the Glazer family owners would “not entertain any offers”.

The Red Knights group, which included former Football League chairman Keith Harris and Goldman Sachs chief economist Jim O’Neil, said that one of its priorities was to reduce debt levels at the club.

The proposed bid was put on hold after the group said media speculation of “inflated valuation aspirations” had hampered its plans.

Post-Ferguson problems

Since Sir Alex called time on his illustrious managerial career nearly 10 years ago, United’s form has gone downhill.

Despite appointing high-profile managers such as Jose Mourinho and Louis van Gaal, the club has failed to win the Premier League since 2013 – while spending more than £1bn on players in that time.

United have also not won a trophy since their Europa League triumph in 2017.

To make matters worse, arch rivals Manchester City and Liverpool have enjoyed huge success as they regularly compete for Premier League and Champions League titles.

Malcolm Glazer death

Malcolm Glazer died in 2014 at the age of 85, having never visited Old Trafford during his ownership of the club.

Although he was a controversial figure in Manchester, tributes poured in from the US, where the businessman was hugely respected for turning Tampa Bay from a laughing stock into a Super Bowl-winning franchise.

After Glazer’s death, NFL commissioner Roger Goodell said: “Malcolm Glazer was the guiding force behind the building of a Super Bowl-champion organisation.

European Super League anger

The Glazers attracted more fury from United fans after taking a leading role in attempts to form a European Super League last year.

United, along with Liverpool, Manchester City, Arsenal, Chelsea and Tottenham, caused outrage with their plans to join the breakaway competition, in which the founding members would be exempt from relegation.

The six English clubs had planned to set up the league with Spanish sides Atletico Madrid, Barcelona and Real Madrid and Italy’s AC Milan, Inter Milan and Juventus, in a group that some nicknamed the “dirty dozen”.

The proposal led to protests from football fans across England, with several hundred storming the Old Trafford pitch before United were due to play Liverpool, meaning the game had to be postponed.

After the clubs backed down Joel Glazer, who had been announced as a vice-chairman of the European Super League, “apologised unreservedly” to fans, saying: “We got it wrong.”

His brother Avram refused to apologise after Sky News confronted him in Florida.

After the scandal, United’s executive vice-chairman Ed Woodward announced he would be leaving the club, having been an unpopular figure with fans after a series of expensive signings with precious little success.

Neville brands Glazers ‘scavengers’

Former Man United captain Gary Neville – who was a player at the club in 2005 when the Glazers took over – has been a vocal critic of the owners in recent months.

After the European Super League fiasco, Neville branded the Glazers “scavengers” who “need booting out of this football club and booting out of this country”.

“We have got to come together,” he told Sky Sports.

“It might be too late, there’ll be people at Manchester United, fans 15 years ago who will say it’s too late.

“It’s never too late, we have got to stop this. It is absolutely critical we do.”

Neville has claimed Old Trafford is “rusting”, with £1bn needed to rebuild the stadium, and the club is in a “mess”.

“When a business is failing and it’s not performing, it is the owners of that business [who are to blame],” Neville said after United were beaten 4-0 by Brentford this season.

“It is really simple. It is failing miserably.

“They took about £24m out of the club two months ago and they have now got a decrepit, rotting stadium, which is second-rate when it used to be the best in the world 15-20 years ago.

“You have got a football project where they haven’t got a clue.”

Neville said there has been a “toxic culture and atmosphere created at the club over a 10-year period” after the departures of Sir Alex and former United chief executive David Gill.

“It is a mess and it cannot carry on,” he added.

Ronaldo criticism

The latest high-profile criticism of the Glazers came from one of Manchester United’s very own star players.

Ronaldo launched a blistering attack on the club’s owners during an interview with Talk TV host Piers Morgan.

The Portugal star, who returned to United last year after 12 years away, claimed the Glazers “don’t care about the club” and said it was a “marketing club”.

“They will get money from the marketing – the sport, it’s, they don’t really care, in my opinion,” he said.

Ronaldo also claimed United had not progressed as a club since the departure of Sir Alex in 2013.

“Nothing changed. Surprisingly,” he said.

“Not only the pool, the jacuzzi, even the gym… Even some points, the technology, the kitchen, the chefs, which is, I appreciate, lovely persons.

“They stopped in a time, which surprised me a lot. I thought I will see different things… different, as I mentioned before, technology, infrastructure.

“But, unfortunately, we see many things that I used to see when I was 20, 21, 23. So, it surprised me a lot.”

Since the interview last week, the club’s lawyers had reportedly been looking at ways to bring Ronaldo’s time at the club to an end and on Tuesday it was announced that he was leaving “by mutual agreement, with immediate effect”.

Talk of sale and interest from Britain’s richest man

Bloomberg reported in August that the Glazer family were considering selling a minority stake in United and preliminary discussions had been held about bringing in a new investor.

It also emerged that one of Britain’s richest men, Sir Jim Ratcliffe, a boyhood United fan and a proven investor in sport through his Ineos company, had expressed an interest in buying the club.

In October, he revealed he had met the Glazer family and was told they were not interested in selling Manchester United.

“I met Joel and Avram, and they are the nicest people,” Sir Jim said.

“They are proper gentlemen, and they don’t want to sell it. It is owned by the six children of the father and they don’t want to sell.”

Business

US-UK trade deal ‘done’, says Trump as he meets Starmer at G7

Published

1 hour ago

June 17, 2025

admin

US-UK trade deal 'done', says Trump as he meets Starmer at G7

The UK-US trade deal has been signed and is “done”, US President Donald Trump has said as he met Sir Keir Starmer at the G7 summit.

The US president told reporters: “We signed it, and it’s done. It’s a fair deal for both. It’ll produce a lot of jobs, a lot of income.”

As Mr Trump and his British counterpart exited a mountain lodge in the Canadian Rockies where the summit is being held, the US president held up a physical copy of the trade agreement to show reporters.

Several leaves of paper fell from the binding, and Mr Starmer quickly bent down to pick them up, saying: “A very important document.”

Sir Keir said the document “implements” the deal to cut tariffs on cars and aerospace, adding: “So this is a very good day for both of our countries – a real sign of strength.”

Mr Trump added that the UK was “very well protected” against any future tariffs, saying: “You know why? Because I like them”.

However, he did not say whether levies on British steel exports to the US would be set to 0%, saying “we’re gonna let you have that information in a little while”.

What exactly does trade deal being ‘done’ mean?

The government says the US “has committed” to removing tariffs (taxes on imported goods) on UK aerospace goods, such as engines and aircraft parts, which currently stand at 10%.

That is “expected to come into force by the end of the month”.

Tariffs on car imports will drop from 27.5% to 10%, the government says, which “saves car manufacturers hundreds of millions a year, and protects tens of thousands of jobs”.

The White House says there will be a quota of 100,000 cars eligible for import at that level each year.

But on steel, the story is a little more complicated.

The UK is the only country exempted from the global 50% tariff rate on steel – which means the UK rate remains at the original level of 25%.

That tariff was expected to be lifted entirely, but the government now says it will “continue to go further and make progress towards 0% tariffs on core steel products as agreed”.

The White House says the US will “promptly construct a quota at most-favoured-nation rates for steel and aluminium articles”.

Other key parts of the deal include import and export quotas for beef – and the government is keen to emphasise that “any US imports will need to meet UK food safety standards”.

There is no change to tariffs on pharmaceuticals for the moment, and the government says “work will continue to protect industry from any further tariffs imposed”.

The White House says they “committed to negotiate significantly preferential treatment outcomes”.

Mr Trump also praised Sir Keir as a “great” prime minister, adding: “We’ve been talking about this deal for six years, and he’s done what they haven’t been able to do.”

He added: “We’re very longtime partners and allies and friends and we’ve become friends in a short period of time.

“He’s slightly more liberal than me to put it mildly… but we get along.”

Sir Keir added that “we make it work”.

The US president appeared to mistakenly refer to a “trade agreement with the European Union” at one point as he stood alongside the British prime minister.

Mr Trump announced his “Liberation Day” tariffs on countries in April. At the time, he announced 10% “reciprocal” rates on all UK exports – as well as separately announced 25% levies on cars and steel.

In a joint televised phone call in May, Sir Keir and Mr Trump announced the UK and US had agreed on a trade deal – but added the details were being finalised.

Ahead of the G7 summit, the prime minister said he would meet Mr Trump for “one-on-one” talks, and added the agreement “really matters for the vital sectors that are safeguarded under our deal, and we’ve got to implement that”.

Business

Poundland to stop paying rent at hundreds of stores in rescue deal

Published

17 hours ago

June 16, 2025

admin

Poundland to stop paying rent at hundreds of stores in rescue deal

Poundland will halt rent payments at hundreds of its shops if a restructuring of the ailing discount retailer is approved by creditors later this summer.

Sky News has learnt that Poundland’s new owner, the investment firm Gordon Brothers, is proposing to halt all rent payments at so-called Category C shops across the country.

According to a letter sent to creditors in the last few days, roughly 250 shops have been classed as Category C sites, with rent payments “reduced to nil”.

Poundland will have the right to terminate leases with 30 days’ notice at roughly 70 of these loss-making stores – classed as C2 – after the restructuring plan is approved, and with 60 days’ notice at about 180 more C2 sites.

The plan also raises the prospect of landlords activating break clauses in their contracts at the earliest possible opportunity if they can secure alternative retail tenants.

In addition to the zero-rent proposal, hundreds of Poundland’s stores would see rent payments reduced by between 15% and 75% if the restructuring plan is approved.

The document leaves open the question of how many shops will ultimately close under its new owners.

A convening hearing has been scheduled for next month, while a sanction hearing, at which creditors will vote on the plan, is due to occur on or around August 26, according to one source.

The discounter was sold last week for a nominal sum to Gordon Brothers, the former owner of Laura Ashley, amid mounting losses suffered by its Warsaw-listed owner, Pepco Group.

Poundland declined to comment.

Business

Israel-Iran conflict poses new cost of living threat – here’s why

Published

22 hours ago

June 16, 2025

admin

Israel-Iran conflict poses new cost of living threat - here's why

The UK’s cost of living crisis hangover is facing fresh pressure from the Israel-Iran conflict and growing tensions across the Middle East.

Whenever the region, particularly a major oil-producing country, is embroiled in some kind of fracas, the potential consequences are first seen in global oil prices.

The Middle East accounts for a third of world output.

Money latest: ‘Unusual movement’ in house prices

Iran’s share of the total is only about 3%, but it is the second-largest supplier of natural gas.

Add to that its control of the key Strait of Hormuz shipping route, and you can understand why any military action involving Iran has huge implications for the global economy at a time when a US-inspired global trade war is already playing out.

What’s happened to oil prices?

Global oil prices jumped by up to 13% on Friday as the Israel-Iran conflict ramped up.

It was the biggest one-day leap seen since Russia invaded Ukraine in February 2022, which gave birth to the energy-driven cost-of-living crisis.

From lows of $64 (£47) a barrel for Brent crude, the international benchmark, earlier this month, the cost is currently 15% higher.

Iran ships all its oil to China because of Western sanctions, so the world’s second-largest economy would have the most to lose in the event of disruption.

Should that happen, China would need to replace that oil by buying elsewhere on the international market, threatening higher prices.

How are natural gas prices holding up?

UK day-ahead prices are 15% up over the past week alone.

Europe is more dependent on Middle East liquefied natural gas (LNG) these days because of sanctions against Russia.

The UK is particularly exposed due to the fact that we have low storage capacity and rely so much on gas-fired power to keep the lights on and for heating.

Israel-Iran latest: Tehran threatens to leave nuclear treaty

The day-ahead price, measured in pence per therm (I won’t go into that), is at 93p on Monday.

It sounds rather meaningless until you compare it with the price seen less than a week ago – 81p.

The higher sum was last seen over the winter – when demand is at its strongest.

What are the risks to these prices?

Market experts say Brent crude would easily exceed $100 (£74) a barrel in the event of any Iranian threats to supplies through the Strait of Hormuz – the 30-mile wide shipping lane controlled by both Iran and Oman.

While Iran has a history of disrupting trade, analysts believe it will not want to risk its oil and gas income through any blockade.

What do these price increases mean for the UK?

There are implications for the whole economy at a time when the chancellor can least afford it, as she bets big on public sector-led growth for the economy.

We can expect higher oil, gas and fuel costs to be passed on down supply chains – from the refinery and factory – to the end user, consumers. It could affect anything from foodstuffs to even fake tan.

Increases at the pumps are usually the first to appear – probably within the next 10 days. Prices are always quick to rise and slow to reflect easing wholesale costs.

Energy bills will also take in the gas spike, particularly if the wholesale price rises are sustained.

The energy price cap from September – and new fixed-term price deals – will first reflect these increases.

How does this all play out in the coming months?

So much depends on events ahead.

But energy price rises are an inflation risk and a potential threat to future interest rate cuts.

While LSEG data shows financial markets continuing to expect a further two interest rate cuts by the Bank of England this year, the rate-setting committee will be reluctant to cut if the pace of price growth is led higher than had been expected.

At a time when employers are grappling with higher taxes and minimum pay thresholds, and consumers a surge in bills following the ‘awful April’ hikes to council tax, water and other essentials, a fresh energy-linked inflation spike is the last thing anyone needs.