The Manchester United ownership saga has been a tumultuous ride, filled with fan protests, financial controversies, and fleeting takeover hopes ever since the Glazer family acquired the club in 2005. Nearly two decades on, speculation over a complete sale is intensifying.
According to recent reports from The Athletic, the Glazers are seriously considering an exit before February 2027 to maximize their returns.
With a “soft deadline” approaching and interest emerging from Middle Eastern investors such as Sheikh Jassim of Qatar, UAE-based conglomerates, Saudi Arabia’s Public Investment Fund, and several private equity firms, the possibility of a full change in ownership could finally become reality.
For Manchester United fans, weary of leveraged buyouts and controversial management, the thought of a new chapter is tantalizing—but is it genuine or just another false dawn? Let’s explore the timeline, potential buyers, and what a sale could mean for the club’s future.
The 2005 leveraged buyout fundamentally altered Manchester United’s financial landscape. At a valuation of around £790 million, the takeover saddled the club with £525 million in debt, much of which still exists today, ballooning to over £650 million in long-term borrowings by 2025.
Over the years, the Glazers have extracted more than £1.16 billion in dividends, while the club posted losses, including a £113 million deficit in 2023-24.
Fan frustration culminated in the Green and Yellow protests, boycotts, and the infamous 2021 European Super League debacle.
Despite winning three Premier League titles, the club has not claimed Champions League glory since 2008, and recent years have seen a slide to mid-table mediocrity.
In 2023, Sir Jim Ratcliffe’s INEOS acquired a 27.7% minority stake for £1.3 billion, gaining full control over football operations for £245 million.
While this appeased some unrest, the Glazers retained 69% ownership, including Class B shares that grant them significant voting power.
Crucially, Ratcliffe’s deal included a three-year “drag-along” right expiring in February 2027, ensuring that if the Glazers sell, he can buy at the same per-share price of at least $33 (£25) or block the deal.
After 2027, the Glazers could face lowball offers, potentially reducing United’s value from an estimated £5–6 billion.
The Athletic notes that this “soft deadline” is pushing the family toward action, especially with £230 million in debt refinancing due amid rising interest rates.
Potential buyers are eyeing United closely. Sheikh Jassim bin Hamad Al Thani, whose 2023 bid exceeded £5 billion in cash, remains interested.
UAE-based groups, including the City Football Group, and Saudi investors like the PIF are also reportedly evaluating offers.
Private equity firms such as Carlyle and Apollo are drawn to United’s £648 million revenue and 650 million global fanbase.
Each brings promises of infrastructure improvements, including the long-discussed £2 billion Old Trafford renovation, as well as a debt-free future.
A Glazer exit could be transformative. While Ratcliffe’s management—appointing CEO Omar Berrada and sporting director Dan Ashworth—has stabilized the club, full ownership change could accelerate squad investment, stadium upgrades, and a return to Champions League contention under Ruben Amorim.
A sale before 2027 could net the Glazers billions, but fans are prioritizing long-term stability over short-term profit.
Conversely, delayed negotiations might distract the rebuild or risk a post-2027 fire sale. With Ratcliffe’s stake safeguarded, however, a clean break seems achievable.
For supporters, a sale before 2027 represents more than a financial transaction—it’s a chance for redemption.
After two decades of leveraged ownership and profits at the club’s expense, new owners could provide a debt-free restart, revitalizing Old Trafford and restoring Manchester United’s competitive edge.
Whether it’s Sheikh Jassim’s vision, UAE infrastructure expertise, Saudi ambition, or private equity precision, the end of the Glazers’ era feels imminent. The Red Army now faces the question: who should lead Manchester United into its next chapter?
