The Glazers have no plan to sell the champion soccer team Manchester United, and would be quite happy to keep it for at least five more years, the Daily Mirror reported.
The late American businessman Malcolm Irving Glazer (1928 –2014), who served as the president and CEO of First Allied Corporation, a holding company for his many business interests, owned both Manchester United and the Tampa Bay Buccaneers.
Common wisdom had it that Glazer’s heirs, being American and all, would be unhappy with United’s failure to qualify for the European Champions League for the first time since 1995, and look to sell it.
How little do these chaps in England understand American sports team owners. It’s not about the money, love, it’s about sitting in the owner’s booth with your high school buddies, sipping the single malt.
But I digress.
The Glazers have now made it clear that they believe the club’s long-term financial health looks better than ever, particularly after closing a bunch of amazing commercial deals.
Because the fans also don’t care all that much if United takes one year’s hiatus from the UEFA. They’ll still buy the sneakers.
Last month United signed a record $1.244 billion kit deal with Adidas for next year, and this year they had their $78 million-a-year shirt sponsorship deal with Chevrolet.
Malcolm Glazer bought United in 2005 for $1.31 billion (he actually started buying up the club’s shares in 2003). It’s now valued at $3.07 billion. That’s a nice couple of day’s work. So why should they sell?
OK, there was the recent sale of about 15 percent of the team’s shares, which brought in a lot of cash – $147.61 million. So they needed some walking around money. That don’t mean they’re selling out.
Now it’s up to the fans to decide if it’s OK for them that their championship team is owned by a bunch of guys names Glazer.