Manchester United earned a hard-fought 3-2 win against Aston Villa in its first match after a small change in its ownership.
As Jim Ratcliffe, the founder of British multinational conglomerate INEOS, acquired 25 percent of the club recently, the win in the Premier League side started the new era on an optimistic note, marking the end of the domination of the Glazers – United’s former owners – after nearly two decades.
Here is a timeline of the Glazers family taking over the club to finally welcoming new co-owners:
March 2, 2003 - Glazers buy their first stake in the club
Malcolm Glazer, an American businessman and the owner of the then Super Bowl champion the Tampa Bay Buccaneers buys a 2.9 percent stake in Man United for 9 million pounds (USD 11m). By late November, that share increases to 15 percent.
May 12, May 2005 - Glazers become primary owners of Man United
Glazer buys out stakes of J. P McManus and John Magnier to acquire 57 percent of the club and become a majority stakeholder of the club. Within four days, they expand their ownership further, increasing their stake to 75 percent.
Tampa Bay Buccaneers team owner and president Malcolm Glazer started the purchase of stakes in Man United, which kept on increasing since 20023. | Photo Credit: AP
June 29, 2005 - The Glazers family completed takeover, fans protest
The shareholding of Red Football, the firm run by the Glazers, reaches 98%. The takeover, is complete. But the club is plunged into debt for the first time in over seven decades, taking on debt of £660m (£824m).
The first visit of the new owners, Joel, Bryan and Avram Glazer, to Old Trafford is met with protests by hundreds of protesting fans and chants of “die, Glazer, die”.
Manchester United fans protest on the streets of Cardiff about the takeover of the club by US tycoon Malcolm Glazer. | Photo Credit: AP
February 28, 2010 – Green and Gold Anti-glazer protests begin
Thousands of Manchester United fans wear green-and-gold scarves distributed by the Manchester United Supporters’ Trust (Must) during the Carling Cup final against Aston Villa.
Intended as a symbolic rejection of the Glazer family’s ownership, the green-and-gold theme harked back to Newton Heath, the club founded in 1878 that then became Manchester United in 1902.
May 9, 2010 - Man United’s debt keeps on increasing
The financial health of the club continues to deteriorate. Despite selling Cristiano Ronaldo to Real Madrid for a world-record fee of 80 million pounds ($100m) fee, the club’s debt increases from £660m (£824m) to £716m ($894m). The news of the club refinancing the debt sparks more protests.
A protest against the owners of Manchester United, The Glazer family and their plans to sell off shares in the far east to pay off debts. | Photo Credit: Getty Images
Mass protests take place before United’s final Premier League game of the 2009-10 season against Stoke City, with the club still having a chance to win the title. Despite winning the match, United lose the race to Chelsea.
July 20, 2012: United announces stock listing in New York
The Glazers, through Man United, start trading at the New York Stock Exchange. The family makes 75 million pounds selling a portion of their shares.
May 28, 2014: Malcolm Glazer passes away
Malcolm Glazer, who suffered a stroke in April 2006, dies aged 85. He never set foot inside Old Trafford. The Glazer family then sells a further 12m shares for USD 17 each – making another $200m (£129m). Amid the anger of thousands of fans, the Glazers rule out selling the club for at least five years.
August 10, 2017: Glazers sell Man Utd shares but no money returns to club
The Glazer family sells a further two percent of Manchester United shares worth around $73.91 million (£56.85m). The sale of 4,347,826m shares, through parent company Red Football, however, does not see any of the money get back to the club.
Avram Glazer (L) and Joel Glazer, the Co-Chairmen of Manchester United at Old Trafford during a Premier League match between Manchester United and Burnley . | Photo Credit: Getty Images
May 21, 2020: Losses pile up for Man United under Glazers
Manchester United’s net debt has risen to £429.1 million after a 42 per cent year-on-year increase, while it recorded an operating loss of £3.3m in part due to the impact of the coronavirus pandemic.
March 12, 2021: Avram Glazer puts more United shares up for sale
United’s co-chairman Avram Glazer puts shares worth more than £70m up for sale. Debt is up 16% to £455.5m after 12 months of the pandemic.
April 18, 2021: United joins European Super League
Manchester United joins a select set of clubs to start a breakout league, the European Super League, which would be different from the UEFA Champions League. The Glazers are reportedly one of the main proponents of the league. Mass protests follow and the club eventually withdraws from the proposed league.
Thousands of fans protest against the new European Super League - a tournament of which Joel Glazer was considered one of the main proponents. | Photo Credit: AP
November 23, 2022: Glazers put Man United up for sale
The Glazer family announces it is “commencing a process to explore strategic alternatives” for Manchester United, potentially bringing an end to its 17-year ownership of the club. An American investment bank, the Raine Group, is enlisted to handle any sale or fresh investment.
February 17, 2023: Qatar’s Sheikh Jassim and Ineos launch bids
Qatar’s millionaire Sheikh Jassim bin Hamad al Thani and Ineos founder Sir Jim Ratcliffe bid for stakes in Manchester United. Jassim reportedly bids USD 6 million for complete ownership. He would not have used any debt to acquire United and his bid would have paid down the club’s existing debt pile.
Ratcliffe, on the other hand, looked for one-fourth of the club’s ownership. By November, Jassim withdraws bid after being frustrated with unsuccessful negotiations for nine months.
December 24, 2023: Sir Jim Ratcliffe acquires 25 percent stake in Man United
Ratcliffe buys a 25 percent stake in Manchester United and pledges to invest $300 million in the English Premier League club to try to revive its fortunes. The deal also sees him take over management of the club’s football operations.
A billboard near Old Trafford shows a picture of Sir Jim Ratcliffe above the words ‘Welcome To Manchester’ after he bought stakes of the club. | Photo Credit: Getty Images
December 26, 2023: Man United starts Ratcliffe era with a win
Rasmus Hojlund’s first Premier League goal and a brace by Alejandro Garnacho secures a 3-2 win for Manchester United against Aston Villa, with the first match after Ratcliffe’s acquisition ending in favour of the Red Devils.
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