Report: Glazers considering selling minority stake in Manchester United

Martin Rickett - PA Images / PA Images / Getty

The Glazer family is considering selling a minority stake in Manchester United, sources told Bloomberg's David Hellier and Ruth David.

The family, led by brothers Avram and Joel Glazer, has no intention of ceding complete control of the club it has operated since 2005 to an outside investor, the sources added.

A spokesperson for British billionaire Sir Jim Ratcliffe told The Times on Wednesday that Ratcliffe would be interested in buying a minority stake if he also had the option to take full control of United in the future.

Ratcliffe's Ineos chemicals group currently owns Ligue 1 side OGC Nice. A lifelong fan of United, the 69-year-old seems more interested than ever in buying a Premier League club. Ratcliffe made a late attempt to buy Chelsea for £4.25 billion in April but ultimately lost out to Todd Boehly's consortium.

Fan-led protests in and around Old Trafford continue to target the Glazers, who have taken annual dividends out of the club since the late Malcolm Glazer, father of Avram and Joel, completed a leveraged buyout of the club 17 years ago. The takeover saddled United with debt and enabled the American family to take millions of pounds out of the club in shareholder rewards.

In June, the family received the bulk of the £11 million the club paid out to shareholders. At around the same time, United posted an 11.8% increase in debt, bringing it up to £495.7 million.

The Glazers value United at around $6 billion, sources told Hellier and David. The club's market value on the New York Stock Exchange is significantly lower at around $2.2 billion.

United's stock shot up as much as 7.6% on Wednesday after Tesla CEO Elon Musk tweeted he was buying the club. Musk, who's currently trying to back out of a deal to buy Twitter, later clarified he was joking and not interested in buying sports teams.

"Although, if it were any team, it would be Man U," the 51-year-old added. "They were my fav team as a kid."

Resentment toward the Glazers has ballooned in Manchester, with supporters often wearing green and gold in protest and holding placards calling for their ouster. Founded in 1878 as Newton Heath, the club originally sported green and gold before opting for red as its primary color.

Fans' hostility toward the Glazers grew last April when they included the club in plans to form a breakaway super league with 11 other teams. The family later invited fans to join an advisory board to increase supporter input in the club's decision-making process.

Comments
Report: Glazers considering selling minority stake in Manchester United
  Got something to say? Leave a comment below!

Daily Newsletter

Get the latest trending sports news daily in your inbox