Malcolm Glazer (1928- )

About Man Utd - an encyclopaedia of Manchester United Football Club

About Man Utd - an encyclopaedia of Manchester United Football Club
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Malcolm Glazer is a wealthy American businessman who, since 2005, has been the owner of Manchester United FC Ltd.

Glazer is President and Chief Executive of First Allied Corporation, a holding company that handles his wide range of business interests. As well as Manchester United, Glazer also owns American football club, Tampa Bay Buccaneers. His six children are all involved in his businesses: all sit on the Manchester United board, with Joel and Avram being Co-Chairmen.

Glazer owned shares in Manchester United PLC since at least 2003. In September 2003 he had to declare his stake, as it had grown larger than 3%. By the end of 2003 he owned 15% of the shares and, by October 2004, he owned nearly 30%. The leading shareholders then were still J P McManus and John Magnier. Glazer bought their stake in May 2005 and, a few days later, purchased further shares to take him past 75%. This ended the club's PLC status and it was de-listed from the London Stock Exchange. Glazer continued buying shares until he had the 98% stake that allowed him to compulsorily purchase the remainder. The buy-out had cost in the region of £800m, most of which had been borrowed. Manchester United FC Ltd began with a huge debt, that costs the club a colossal amount each year in interest payments.

The Glazer take-over was vehemently opposed by many Manchester United supporters. Though their fears about increases in ticket prices were soon realised, the take-over didn't destabilise the club. David Gill and Sir Alex Ferguson were both retained, money was made available for the purchase of players, and success on the field followed. Malcolm Glazer claims his investment in Manchester United is 'long-term', but some remain wary of the family's intentions.

Malcolm Glazer suffered strokes in April and May 2006.

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