American Hedge Fund Elliott Management Offers to Back Glazer Family as Manchester United Owners

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Last Updated: February 20, 2023, 21:10 IST

The Glazer family has owned Manchester United, one of the Premier League’s most iconic clubs, for the last 18 years. However, fans of the decorated club have had mixed feelings about the Glazer family since 2005. The Glazer family, which also owns the American football side Tampa Bay Buccaneers, have faced deep-rooted opposition from the United fan base for many years.

Several reports in the last few months have come out suggesting that the Glazer family could sell Manchester United and end their controversial and debt-burdening 18-year reign. The American owners had announced in November 2022 that they would explore outside investment opportunities for the club. Some reports even suggested that the Glazers’ were prepared to sell the entirety of the club.

However, an ESPN report now suggests that the Glazers might actually remain at the club. The Glazer family has been offered financial backing to remain as owners of Manchester United by American hedge fund Elliott Management. The emergence of this New York-based group in the sale process of Manchester United opens up the prospect of Joel and Avram Glazer, retaining their interest in the club.

Joel and Avram Glazer are keen to attract outside investment to help with the modernization of Old Trafford and the construction of a new training ground.

Besides, Elliott’s entry into the process offers the Glazers the opportunity to negotiate investment for the existing owners if a full sale cannot be achieved.

Manchester United fans have long protested against the Glazers’ ownership of the club. This new report could incense these fans. The likes of Sheikh Jassim Bin Hamad Al Thani, the chairman of the Qatar Islamic Bank, and British businessperson Jim Ratcliffe, the founder of chemicals company INEOS, have submitted sealed bids to buy United to US merchant banker Raine Group.

Although Manchester United has a glorious legacy, the Red Devils are now well removed from the golden Sir Alex Ferguson era as it has not won any form of trophy since 2017.

In fact, United has not won the Premier League since Sir Alex Ferguson’s departure in 2013. But Manchester United have done well under Erik ten Hag and emerged as the team to beat in the ongoing season.

Keywords: Manchester United, Premier League, Glazer family

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