From funding by railway firm to Glazers’ control: A history of Manchester United’s ownership

Presently, the club says the Glazer family is working with advisers on a process that could lead to a partial sale or investments for stadium and infrastructure redevelopment.

A flag of Manchester United | Reuters File Photo/Phil Noble

Manchester United said on Tuesday it was considering new investment or a potential sale, 17 years after the American Glazer family bought the English Premier League soccer club.

The popular but underperforming club is no stranger to ownership tussles and the rough and tumble of financial markets.

The club’s New York-listed shares jumped as much as 19% after Sky News reported the plans on Tuesday, now valuing the club at $2.46 billion.

Here are some financial milestones from the club’s history:

• Nov. 22, 2022 – The club says the Glazer family is working with financial advisers on a process that could lead to a partial sale or investments including stadium and infrastructure redevelopment.
• Aug. 17, 2022 – British billionaire Jim Ratcliffe is interested in buying the club, a source tells Reuters.
• Aug. 16, 2022 – Elon Musk tweets: “I’m buying Manchester United ur welcome,” before later explaining it was a joke.
• 2021 – Britain’s Daily Mirror reports the Glazers, facing growing fan discontent, were prepared to sell for offers in excess of 4 billion pounds ($4.8 billion).
• 2012 – Lists on the New York Stock Exchange, raising about $233 million for a valuation of $2.3 billion
• 2011 – Club mulls stock market listings in Hong Kong or Singapore, but puts plans on hold amid market turmoil
• 2005 – Glazer family wins control with a leveraged buyout that valued the club at 790 million pounds.
• 2003 – U.S. sports tycoon Malcolm Glazer begins building a stake.
• 2001 – Irish racing magnates J.P. McManus and John Magnier creep up the register.
• 2000 – London shares touch record high of 450p as club enjoys on-field success and amid ownership speculation.
• 1999 – British government blocks a takeover bid from Rupert Murdoch-controlled BSkyB. BSkyB starts cutting its stake.
• 1991 – Floated on the London Stock Exchange.
• 1989 – Property developer Michael Knighton makes an ultimately failed takeover attempt.
• 1984 – Louis Edwards’ son Martin rejects takeover bid from publishing tycoon Robert Maxwell.
• 1958 – Manchester butcher Louis Edwards finances the club’s rebuild after the Munich air crash. Takes a controlling interest in 1964.
• 1931 – James W. Gibson, a uniform manufacturer, takes over a club struggling in the Great Depression. Retains control until his death two decades later.
• 1902 – Club issued with a winding up order. Four local businessmen, including brewer John Henry Davies, invest and change name to Manchester United.
• 1892 – Club becomes a Limited Company.
• 1878 – Founded as Newton Heath LYR Football Club, funded by Lancashire and Yorkshire Railway.

($1 = 0.8264 pounds) -Reuters

 

(Reporting by Tom Westbrook and Nick Mulvenney; Additional reporting by Akriti Sharma; Editing by Ken Ferris and Sam Holmes)

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