Manchester United co-owner Avram Glazer has argued that clubs of United’s stature do not depend on success on the pitch to retain their commercial power.
United’s ownership built a familiar commercial argument
The Glazer family completed a leveraged takeover of Manchester United for approximately £790 million in 2005, when the club had previously been debt-free.
Former executive vice-chairman Ed Woodward advanced much the same position in May 2018, saying that playing performance did not have a “meaningful impact” on the commercial business (via RTÉ).
The ownership structure changed after minority co-owner Sir Jim Ratcliffe completed his investment in February 2024 and INEOS assumed control of football operations. The Glazers retained majority control, although they have recently been reported to hold serious concerns about Ratcliffe’s management of the club.
United generated commercial revenue of £333.3 million in 2024/25 despite finishing 15th in the Premier League. That figure then fell by 4.8% to £317.3 million in 2025/26, even as total revenue reached a club-record £677.6 million and the team finished third.
Glazer makes his pitch to sports investors
Glazer made the comments during a rare speaking appearance at Deutsche Bank’s inaugural Sports Investment Conference in London in September. He reportedly compared United with the New York Yankees and Dallas Cowboys, whose global commercial appeal has survived long waits for major sporting honours.
Sources said “his presence suggests he is keeping an open mind on investment opportunities”, with the remarks presenting United as a resilient commercial proposition to an audience of financiers, owners and advisers (via The Athletic).
It is, of course, an exceptionally convenient thesis for an owner whose club last won the Premier League in 2013. Glazer spoke before the latest downturn under head coach Michael Carrick, which has since left United 17th after defeats to Bournemouth and Chelsea were followed by a comeback victory over Roma.
The club’s relative standing has also shifted. Forbes valued United at $7.2 billion in May 2026, placing them behind Barcelona and Real Madrid, whereas the Red Devils had topped its football rankings from 2007 to 2012 and again in 2017 and 2018.
Meanwhile, financial pressure has helped prompt United to accept more than £10 million from Amazon for an access-all-areas documentary. The club regards it as a record access fee, having previously decided that similar proposals were not worth allowing cameras into private areas.
Avram Glazer’s two decades at Old Trafford
Avram Glazer became a non-executive director of United on 6 June 2005. He has served as an executive co-chairman and director of Manchester United plc since May 2012.
As of September 2026, Glazer controlled 12,014,995 Class B shares, carrying 9.85% of the voting power. The six Glazer siblings collectively held 67.91%, leaving the family firmly in control despite Ratcliffe’s minority investment.
Away from United, Glazer was president and chief executive of Zapata Corporation from 1995 until 2009 and its chairman between 2002 and 2009. He is also chairman of Innovate Corp and an owner of the Tampa Bay Buccaneers.
Glazer’s argument is likely to remain the ownership’s preferred commercial message, but declining income and United’s slide down global valuation rankings make it rather less convincing than the Yankees and Cowboys comparison suggests.
Final Thoughts
- Avram Glazer says United’s commercial power is not dependent on sporting success.
- His conference appearance was viewed as a sign that he remains open to investment opportunities.
- United’s recent commercial decline will place Glazer’s argument under further scrutiny.
Featured image by Richard Heathcote via Getty Images
1 comment
Well, he has made it very clear that the Glazers do not care a wee bit as to where Utd are in the table. Fans keep the stadium full at home and away and this is the reward. Fans should stop going for the games and purchase no merchantdice. Desprate measures needed to get the Glazers out. Painful, yes but there is no other way.