Several members of the Glazer family are separately exploring the possibility of selling part or all of their Manchester United shares — and are trying to convince the rest to join in. This is reported by Bloomberg citing people familiar with the situation. A club representative declined to comment.
Not the first time — but different this time
The family went through this in 2022, when it publicly announced a "review of strategic alternatives." Back then, negotiations lasted over a year: Qatari sheikh Jassim eventually withdrew from talks, and British billionaire Jim Ratcliffe through INEOS bought 25% of shares in December 2023 — along with operational control over the sports division — for approximately £1.3 billion. His stake has since grown to 28.9%.
The difference from 2022 lies in the details of the deal with Ratcliffe. According to FourFourTwo, the contract includes a clause that incentivizes the Glazers to sell their stake by February 2027. That means the family has approximately 18 months to either reach an agreement among themselves or miss the window.
Sale arithmetic
Manchester United shares trade on the NYSE at approximately $21, giving a market capitalization of around $3.6 billion. However, Bloomberg clarifies: the actual deal price will exceed this figure — due to the structure of voting shares, which concentrates control in the family's hands.
Meanwhile, the club faces a potential multibillion-pound bill for the reconstruction of Old Trafford stadium. This is one of the arguments in favor of a sale — a new owner with deep pockets could take this burden upon themselves.
"Any potential sale could attract buyers from the Middle East, as well as wealthy individuals from the US. Buyers will likely face a steep price for such an asset at a time when the cost of financing large M&A remains elevated."
Bloomberg
Club without Europe — and suddenly with it
The context for potential buyers is mixed. In 2025, Manchester United failed to qualify for European competitions for the first time in over a decade — a direct testament to the sporting crisis following Alex Ferguson's departure in 2013. Since then, the club has changed several managers and star players, yielding a meager trophy haul.
At the same time, Bloomberg notes an ironic turn: the club qualified for the Champions League for the next season. This means substantial financial revenues from UEFA — and an additional incentive for the Glazers not to rush into a sale.
Family arithmetic
The family is not monolithic. Avram and Joel Glazer are co-chairmen of the club. Their siblings Kevin, Bryan, Darcy, and Edward are board directors. According to Bloomberg, there is no common decision to exit — various family members are still discussing the best path forward. Some of them are opposed to a sale, and pushing through a deal without their consent will be difficult.
Ratcliffe, for his part, is already in the red: his shares are now worth approximately $812 million — 48% less than the amount he paid. A paper loss of around $734 million. For comparison: that money could have bought the entire Newcastle United.
If the Glazers do not reach consensus by February 2027 — Ratcliffe's clause will work to their detriment. The question is not whether they will sell, but whether they will manage to agree among themselves before time runs out.
