Manchester United now has one of the most unique ownership situations in world football, following the Glazer family, which sold 27.7 percent of the club to Sir Jim Ratcliffe’s company, INEOS.
The Glazers have been in power since 2004, and have since not exactly been adored by Red Devils supporters during their time at Old Trafford. They have a long history with the club that has affected everything from the manager and the coaching staff, to the first-team squad at Carrington.
In December of 2023 – it was officially announced that Ratcliffe’s INEOS would be securing a part-stake in the club, which fans hope will change the trajectory of Manchester United forever.
Manchester United’s ownership – Explained
Manchester United’s ownership is unique, which is why it is difficult to grasp.
It’s a situation where Sir Jim Ratcliffe, owner of INEOS, is purchasing control of 27.7 per cent of Manchester United to run 100 per cent of the football operations.
Ratcliffe and co are buying 27.7 per cent of the Class B shares owned by the Glazer family. These are called ‘super-voting shares’, so although the Glazers only own 69 per cent of Manchester United, their shares come with voting rights, which means, effectively, they own 97 per cent of the club – hence meaning they can make all the big decisions.
Ratcliffe’s company, INEOS, has bought 27.7 per cent of Manchester United in exchange for sporting control. The deal cost around £1.3billion.
So essentially, this means the club’s football operation is now be overseen by INEOS but the Glazer family, who have owned United since 2005, remain in overall charge, which includes just about everything else.
Ratcliffe does have a say in his team, where he’s already brought in the likes of Omar Berrada and Sir Dave Brailsford – potentially soon-to-be Jean-Claude Blanc.
The club officially confirmed the part-takeover had been completed on the 20th of January 2024, following approval of all conditions, including the FA and the Premier League.
A full history of The Glazers and Manchester United
The stewardship at Old Trafford previously fell just on the shoulders of Glazer’s six children to whom he awarded the ownership after his passing in 2014. He was survived by Avram, Joel, Kevin, Bryan, Darcie and Edward with the first two also having the biggest roles at the club.
When did the Glazers become the owners of Manchester United?
The Glazer family first bought shares in Manchester United in March 2003 before steadily increasing their ownership. The family bought 2.9% control of the Red Devils for £9m before upping their stake to 15% by the end of the year and 30% by October 2004.
May 2005 then saw the Glazers secure full ownership of Manchester United as they bought John Magnier and McManus out. The American family increased their stake to 50% to force a full takeover over the following weeks. It ultimately cost them around £800m to buy the club.
However, it is now estimated that the Glazer’s takeover cost Manchester United more than £1bn in interest and additional fees. The family financed their purchase of the Old Trafford side using loans secured against the club’s assets. It also loaded the club with a lot of debt – which angered Manchester United fans.
There was a constant timeline of protests from loyal Manchester United supporters opposed to the Glazer family ownership. Some supporters even got a game against Liverpool postponed in April 2021.
Supports half-got their wish with the appointment of Sir Jim Ratcliffe and INEOS – but the Glazers remain an ever-present force around Old Trafford to this day.
What have Manchester United won since the Glazers became the club’s owners?
Manchester United had already established themselves as one of England’s most successful teams before the Glazers took full ownership in 2005. The club won the Premier League title in 1992/93, 1993/94, 1995/96, 1996/97, 1998/99, 1999/2000, 2000/01 and 2002/03.
The Old Trafford side would also go on to win the English top-flight title again in 2006/07, 2007/08, 2008/09, 2010/11 and 2012/13. But they have since endured a barren run since Sir Alex Ferguson retired as the club’s manager in 2013. He had stood at their helm since 1986.
Manchester United have also won a Champions League title (2007/08), FIFA Club World Cup (2008/09), one Europa League crown (2016/17), an FA Cup title (2015/16) and three English Football League Cup titles (2009/10, 2016/17, 2022/23) since the Glazers gained ownership.
What other sports franchises do the Glazer family own?
Along with Manchester United, the Glazers also own a clutch of other sports franchises. The Tampa Bay Buccaneers are their other central interest. Malcolm Glazer bought the National Football League (NFL) team in 1995 and the family still own the Florida-based franchise.
Under the Glazer family, the Tampa Bay Buccaneers won the franchise’s maiden Super Bowl title in 2002. They also won a second in the 2020 season spearheaded by iconic quarterback Tom Brady. It also saw the Buccs become the first team to play the Super Bowl on home turf.
The Tampa Bay Buccaneers state on their official website that owner and co-chairman Joel Glazer oversees day-to-day operations. Bryan Glazer also has a day-to-day operational role.
Avram Glazer, meanwhile, bought a T20 cricket franchise in the United Arab Emirates in late 2021, per Sky Sports. He did so by acting as the chairman of private equity firm Lancer Capital.
How much are the Glazers worth?
According to Forbes, the Glazer family held a net worth of almost $6bn (£5bn) as of 2022. By owning the Tampa Bay Buccaneers alongside Manchester United, the family also owns one of the most valuable sports empires. It had them as the eighth-most valuable group at the time.
Part of the family’s net worth came from Forbes valuing the Tampa Bay Buccaneers at close to $3.5bn (£3bn) in 2022. Yet the Bucs were only the 24th-most valuable NFL team in 2022. It also adds that the Glazers bought the NFL franchise back in 1995 for just $192m (£169m).
A full history of INEOS and Manchester United
Sir Jim Ratcliffe’s arrival with his INEOS firm was a welcomed one for Manchester United supporters, which sure did take its time in surfacing.
When did INEOS and Sir Jim Ratcliffe become the part-owners of Manchester United?
Manchester United officially reached an agreement for Sir Jim Ratcliffe, Chairman of INEOS, to acquire up to a 25% shareholding in the club on the 24th of December 2023.
The deal formulated was over a year in the making, with speculation starting about a Ratcliffe bid for United on November the 23rd 2022. It was officially announced on the 17th of January 2023 that Ratcliffe was in the race to become owner of Manchester United.
Quoted by Sky News, Ratcliffe’s firm Ineos stated: “We have formally put ourselves into the process.”The petrochemical company was the first potential bidder to come forward.
The proposed Manchester United takeover seemed to go on for an absolute age – spanning well over a year.
What have Manchester United won since Sir Jim Ratcliffe and INEOS became the club’s owners?
At the time of writing, Manchester United have not won any trophies under Sir Jim Ratcliffe. Current manager Erik ten Hag will be looking to change that shortly.
What other sports franchises do Sir Jim Ratcliffe and INEOS own?
The first sports team INEOS bought was the Swiss Super League team FC Lausanne-Sport in 2017, but this isn’t his current pride and joy aside from United – Ratcliffe also owns Ligue 1 side Nice, purchased in 2019.
Away from football, Ineos also owns the successful sailing team Ineos Britannia – formerly Ineos Team UK, skippered by the legendary Sir Ben Ainslie. Cycling team Ineos Grenadiers is also among the company’s roster, which has already yielded success in the Tour de France.
Ineos also owns a third of Formula 1 team Mercedes, becoming principal partners on a five-year contract in 2020.
How much is Sim Jim Ratcliffe and INEOS worth?
According to Bloomberg’s Billionaire Index, as of 2024 – Sir Jim Ratcliffe is currently worth £14.5 billion ($18.4b). This currently has him as the 103rd richest person in the world.
His company, INEOS, will fluctuate year on year in price, but in 2022, they had a net income of 2 billion, whilst also having 17 billion in assets.
