{"id":56389,"date":"2025-06-08T14:23:43","date_gmt":"2025-06-08T14:23:43","guid":{"rendered":"https:\/\/kede.com.br\/news\/how-the-glazer-family-cost-manchester-united-1-2bn\/"},"modified":"2025-06-08T14:23:45","modified_gmt":"2025-06-08T14:23:45","slug":"how-the-glazer-family-cost-manchester-united-1-2bn","status":"publish","type":"post","link":"https:\/\/kede.com.br\/news\/how-the-glazer-family-cost-manchester-united-1-2bn\/","title":{"rendered":"How the Glazer family cost Manchester United \u00a31.2bn"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">June 2025 marks the 20th anniversary of the Florida-based Glazer family <a href=\"http:\/\/news.bbc.co.uk\/1\/hi\/business\/4118312.stm\" class=\"ssrcss-k8mrr8-InlineLink e1kn3p7n0\">taking full control of the Premier League club.<\/a><\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It was a deeply controversial takeover from the beginning because of the financial implications for United.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">On 22 June 2005, the Glazer family paid \u00a3790m to buy out the club&#8217;s exiting shareholders and to remove the club from the London stock market.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But it was a deal mainly funded by borrowed money and loaded \u00a3604m in debts on to the club, which had previously had borrowings of only \u00a350m.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The club&#8217;s <a href=\"https:\/\/www.manchestereveningnews.co.uk\/news\/greater-manchester-news\/full-text-of-the-letter-to-shareholders-1070596\" class=\"ssrcss-k8mrr8-InlineLink e1kn3p7n0\">board had warned<span class=\"visually-hidden ssrcss-1f39n02-VisuallyHidden e16en2lz0\">, <!-- -->external<\/span><\/a> in April 2005 about the dangers of this amount of debt, saying it was not &#8220;prudent&#8221; and risked &#8220;a downward spiral in both team and financial performance&#8221;.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The takeover provoked protests from fans, which continue to this day.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Calculations by BBC Verify &#8211; based on an analysis of the club&#8217;s published accounts and stock market announcements &#8211; show that since the Glazer family&#8217;s acquisition of the club in June 2005 it has paid out:<\/p>\n<div class=\"ssrcss-h5qd1q-ListContainer e5tfeyi0\">\n<ul role=\"list\">\n<li>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u00a3815m in debt interest repayments<\/p>\n<\/li>\n<li>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u00a3166m in dividends to shareholders<\/p>\n<\/li>\n<li>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u00a310m in management and administration fees to Glazer family companies<\/p>\n<\/li>\n<li>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">\u00a3197m in external net debt repayments<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">This means that, in total, \u00a31.187bn in cash left the club between 2005 and 2024 which it is reasonable to argue would not have done so in the absence of the Glazer takeover.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It is a conservative estimate, too, because it does not include various fees to banks, financial advisers and other financing costs, including currency hedging.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It also does not include the cash that has left the club in the form of directors&#8217; fees.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Since the Glazers re-listed a portion of the club&#8217;s shares on the New York Stock Exchange in 2012, \u00a3125m has also been paid out in compensation to the club&#8217;s directors.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Given half of the directors were Glazer family members, it&#8217;s likely half of this sum &#8211; about \u00a363m &#8211; went to them.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">BBC Verify asked the club to comment on the findings and they said they would leave the accounts to speak for themselves.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/sport\/football\/articles\/cd9lwdegxvxo\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 2025 marks the 20th anniversary of the Florida-based Glazer family taking full control of the Premier League club. It was a deeply controversial takeover from the beginning because of the financial implications for United. On 22 June 2005, the Glazer family paid \u00a3790m to buy out the club&#8217;s exiting shareholders and to remove the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":56390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[66],"tags":[5165,1236,968,4745,1371,2564],"_links":{"self":[{"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/posts\/56389"}],"collection":[{"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/comments?post=56389"}],"version-history":[{"count":1,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/posts\/56389\/revisions"}],"predecessor-version":[{"id":56391,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/posts\/56389\/revisions\/56391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/media\/56390"}],"wp:attachment":[{"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/media?parent=56389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/categories?post=56389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kede.com.br\/news\/wp-json\/wp\/v2\/tags?post=56389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}