The Athletic have exposed the Glazer family’s pitiful investment in Manchester United throughout the years.
The introduction of Ineos as part-owners has given the club a fresh lease on life, and while their ownership hasn’t been faultless, it is considerably superior to what came before.
The Glazer family still owns a substantial portion of the football club, and next year marks the 20th anniversary of their hostile acquisition in 2005.
The American owners have repeatedly been attacked for a lack of interest in the club’s on-field success, as seen by bad management and sporting hires.
Furthermore, they have abandoned the great old stadium of Old Trafford, leaving Ineos to clean up the trash as they plan a brand-new 100,000-seat arena.
The Athletic has broken down the numbers of each Premier League club’s investment from their owners, and it does not make for pleasant reading for United fans.
According to the American newspaper, “a leveraged buyout has proven costly to United, with an initial £800 million sale becoming a financial deadweight.” Approximately £815 million in interest has been paid to service the debt associated with the Glazer buyout.
Furthermore, they have not only loaded the club with debt, but they have not invested any of their own money, while siphoning out dividends for fun over the years.
“Ratcliffe’s arrival also brought an injection of £158 million, the first owner-funded investment at United since the 2012-13 season.”
According to football finance specialist Kieran Maguire, Ineos’ investment, along with the £249 million acquired when the company was listed on the New York Stock Exchange in 2012, brings total owner funding to £477 million throughout the years.
However, given that the Glazers have received £432 million in profits over this time, they have spent only £45 million in the club over the course of two decades.
This is aggravating in and of itself, but when you consider that rivals Manchester City have got £1.3 billion in funding, the degree of support from the two clubs’ owners becomes clear.
It’s also shocking to hear that United has got the least amount of genuine cash from their owners in the league, with Bournemouth receiving £93 million and newly promoted Ipswich Town receiving £83 million.
While Sir Jim Ratcliffe and his team attempt to fix the club’s current situation, these figures serve as a timely reminder of who the true perpetrators of United’s demise are.
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