Jay South

Manchester United’s road to Glazer ownership can be traced back to a horse called Rock of Gibraltar. A dispute between Sir Alex Ferguson and Irish businessmen John Magnier and JP McManus over the horse’s breeding rights turned into a bitter fallout. The Irishmen began challenging United’s board before eventually selling their shares to Malcolm Glazer in 2005. When Malcolm Glazer completed his takeover of Manchester United in June 2005, he introduced approximately £525 million in acquisition debt to the club through a leveraged buyout. United had approximately £50m in gross debt before the takeover. Manchester United did not borrow that money to buy better players, build a stadium or improve its facilities. The borrowing was used primarily to finance Glazer's purchase of the club. The takeover itself was valued at approximately £790 million. Sir Alex has played an indirect role in the suffering of man united.