Manchester United fans continue to protest against the Glazer family ownership after two decades with no investment.
Sir Jim Ratcliffe now has sporting control at Old Trafford following his £1.25bn minority takeover at Manchester United, but he still only owns around 29% of the club’s shares.
The Glazer family retains majority control and crucially have voting power in the United hierarchy. The American family have taken a back seat but continue to use United as a cash cow as they have done since buying the club in 2005.
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In their 20-year ownership, the Glazers have withdrawn £166 million without investing a single penny back into the Red Devils.
United’s gross debt has risen to over £700m under the Glazers, and it seems they will now be excused from not investing in the club.
Joel Glazer and Avram Glazer attend Manchester United Training Session and Press Conference
Photo by Michael Regan/Getty Images
Kieran Maguire on how Man United are impacted by new rules
Premier League clubs have voted to scrap PSR and introduce new squad cost ratio rules from 2026/27 onwards.
The new regulations appear to be favoured towards United and the big clubs, as top-flight clubs will be allowed to spend up to 85% of their revenue on wages, transfer fees and agent fees. With a revenue of £667m in 2024/25, that should give United plenty of financial flexibility.
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Football finance expert Kieran Maguire offered more details on the regulations, including how they benefit the Glazers.
Speaking on the Beyond the Back Four podcast, Maguire said: “We are operating in a new environment and it is very much geared towards what is best for the bigger clubs.
“There will be more caution, these rules are very much a case of ‘stay in your lane’, so it is very frustrating for the ambitious clubs such as Newcastle, Nottingham Forest and you can argue Everton and Aston Villa.
“All of these owners are spectacularly wealthy. Previously, they were able to put money into the club and it did make a difference.
“Under these new rules, less so. So that helps those clubs where the owners don’t put in a penny.
“The Glazers certainly haven’t at Manchester United.”
The Glazers have refused to invest in United over the past 20 years, and now the new rules discourage owners from putting their own money in.
Man United stadium will provide huge budget boost
United already have one of the biggest revenues of any Premier League club, despite the lack of success in the past 10 years.
Man Utd’s new stadium plans, what we know right now
Set to be complete by 2030/31 season
Expected cost around £2 billion
Old Trafford set to be demolished
Expected to create 92,000 new jobs, 17,000 new homes and drive 1.8 million visitors annually
Capacity of 100,000 with steepest stands allowable in UK (35 degree angle)
Munich clock and other iconic club landmarks set to be included in new design
With Ineos planning to build a new 100,000-seater stadium in the next five years, United’s revenue should only grow, which will consequently grow the transfer budget available.
Finance expert Adam Williams predicted United’s stadium could generate £230m per year in revenue.
Under the new rules, United would be allowed to spend 85% of that figure on transfer fees and wages.
There are still plenty of hurdles to jump before United even begin construction on their new home, but the introduction of new Premier League rules make building a new stadium even more beneficial.