The Glazer family were warned against going ahead with their latest takeover plans in Manchester.
For the past two decades, Manchester United fans have resented the Glazer family for their mismanagement at Old Trafford.
The debt amassed by the Glazers has seen United pay nearly £1bn in interest. The financial impact is now being felt by the club with United forced to work with a limited transfer budget in the latest transfer window.
Transfer business under the Glazers has been shocking and Ineos are now working to fix the mistakes made by the American business family over the past 20 years.
The Glazers took a backseat at United last year when Sir Jim Ratcliffe assumed sporting control following a £1.2bn takeover deal. However, Joel and Avram Glazer still hold powerful positions at the club.
Glazers pull out of Manchester takeover bid
Back in October, it was revealed that the Glazers were eyeing a new £650m sports investment but they have been warned to not go through with their latest plan.
According to the Daily Mail, the Glazer family was considering a hugely controversial bid for a stake in Manchester Originals.
The Manchester Originals is a cricket franchise which represents the county of Lancashire in the recently founded The Hundred competition.
They are situated at Old Trafford cricket ground – a venue just a few hundred metres away from Old Trafford (the football ground).
However, the Glazers have abandoned their potential bid after being warned against a move by people close to the process.
The report suggests that potential backlash from angry Manchester United fans is a major contributing factor to the decision. The prospect of an immediate fan backlash was made clear to the Glazers before they eventually pulled the plug on a takeover bid.
Will the Glazers sell all of Man United to Ineos?
Sir Jim Ratcliffe’s £1.2bn takeover only granted the British billionaire a 25 percent stake in Manchester United.
He has been handed complete sporting control at Old Trafford with Ratcliffe building an elite footballing structure at the club during his first year in charge.
However, a report from Manchester Evening News last week suggested Joel Glazer is still involved in transfer decisions at the club.
Hopefully, all members of the Glazer family will soon lose their power to make decisions at Manchester United.
Ratcliffe has an agreement to buy a bigger stake at United in future years, which will eventually give him majority control of the club. However, the timeline for such an investment is not yet clear.
Ratcliffe invested £79m into United as recently as December, but that was a pre-planned investment which is set to be spent on infrastructure improvements.
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