Malcolm Glazer Passes Away
Thu 29th May 2014 | Clubs Ownership
Manchester United’s controversial former owner, Malcolm Glazer has died aged 85.
The US billionaire led the £790m takeover of Manchester United in 2005, but handed over day to day running of the club to his sons, Joel and Avram in April 2006 following a stroke.
“The thoughts of everyone at Manchester United are with the Glazer family tonight following the news that Malcolm Glazer has passed away,” read a statement released by the club.
“Staff at Manchester United extend deep and sincere condolences to them all at this difficult time.”
Despite huge protests against the buyout which saw the debt leveraged against the club’s assets, United went on to win five Premier League titles and the Champions League under his ownership.
A turbulent 2013/14 season followed the retirement of Sir Alex Ferguson and the subsequent poor performances on the field saw the team finish in seventh place, outside the European qualifying places and the dismissal of Ferguson’s replacement, David Moyes.
However, the club continued its aggressive off the field performance posting consecutive record quarterly earnings which has seen income rise to record levels following a number of lucrative long-term sponsorship deals.
Image: REUTERS/Lisa Nipp LN Reuters
Posted by: Aaron Gourley
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