Manchester United are currently feeling the effects of the enormous debt caused by the Glazer family.
Before Manchester United’s 1-1 draw against Arsenal on Sunday afternoon, fans continued their anti-Glazer protests outside Old Trafford.
Ruben Amorim supported the protests, suggesting it is a “good thing” for fans to do. Ultimately, supporters have spent well over a decade trying to get the message across.
United are more than £700m in debt due to the lack of care from the Glazers, and Ineos are now taking the bullet for the Americans by attempting to solve their mess.
Sir Jim Ratcliffe has confirmed more ticket price rises for next season, and the British billionaire is becoming a very unpopular figure among the fan base. But Sir Jim Ratcliffe argues that such action is needed to undo the financial damage done at Old Trafford.
Photo by Gareth Copley/Getty Images
Photo by Gareth Copley/Getty Images
Why the Glazers stopped taking Man United dividends
The Glazers have failed to invest a single penny of their own money into United throughout their 20-year tenure as owners.
Instead, the Glazers have taken millions in dividends over the years. As reported by the BBC, the Glazers stopped taking dividends in late 2022 with United suffering huge losses and fans still enraged following the European Super League fiasco.
Infographic showing the profits and losses posted by Man United since 2013-14 to 2023-24
Photo by Plumb Images/Leicester City FC via Getty Images
But since the Glazer takeover in 2005, they have taken a total of £166m out of the club via dividends.
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While it seems the Glazers may have stopped taking dividends following backlash from fans, the true reality is even scarier. As Ratcliffe bluntly puts it – United are out of cash.
Speaking to Neville on The Overlap, Ratcliffe said: “Manchester United would have run out of money at the end of this year.
“November this year, the club runs out of cash…”
Sir Jim Ratcliffe injected personal cash into Man United
It is quickly becoming very clear why the Glazers put the club up for sale when they did.
Manchester United was crumbling and the cash reserves were drying up at an alarming rate. Without investment, the club faced disaster.
While Ratcliffe’s first 12 months as owner have been controversial, what the British billionaire can say is that he’s put his own money on the line – something the Glazers have never done over 20 years.
Part of Ratcliffe’s 25% takeover included a pledge of £237m personal investment used for club infrastructure projects and operating costs.
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Ratcliffe invested £79m in December in the final payment of his cash injection, but it seems that money has already been gobbled up by the financial black hole that is forming at Old Trafford.
Speaking to Neville, he said: “It’s all gone! Most of that’s gone.” Part of Ratcliffe’s investment went towards United’s Project Avalon refurbishment at Carrington, which is set to be completed in the summer.