Each of the six siblings will pocket between £100-150 million. The proposed payout is scheduled for a crucial vote next week.
The money will further swell the family’s coffers, adding to the wealth garnered from previous share sales, dividends, remuneration and management fees since their takeover in 2005.
The Glazer siblings, Joel, Avram, Kevin, Bryan, Darcie and Edward, currently occupy seats on the board of Red Football Joint Venture, the parent company of Man United.
The impending transaction will not relinquish the family’s majority ownership, leaving them with over 50% control of the club. The remaining portion will be in the hands of shareholders via the New York Stock Exchange.
INEOS chairman Ratcliffe will secure about 28% ownership of Manchester United through a substantial investment of approximately $300m earmarked for stadium and training-ground infrastructure.
United shareholders will convene in New York on Monday to vote on the proposed sale. With Ratcliffe offering $33 a share, well above the recent closing price of $19.40, the deal is expected to receive overwhelming support.
Joel Glazer holds the largest individual share among the family and stands to earn $195m from the sale.
His other siblings will receive sums ranging from $124-177 million.
Past and present United executives, including Richard Arnold, Patrick Stewart and Cliff Baty, will also receive significant windfalls from the sale of their shares.
The Glazers’ acquisition of Man United in 2005 for £790m, financed primarily through loans, has been a source of ongoing financial scrutiny.
Despite previous share sales and refinancing efforts, the club’s debt reportedly stands at £651m, per the latest annual accounts.
Football finance expert Kieran Maguire has highlighted the family’s use of ‘irrevocable trusts’ to mitigate inheritance tax and simplify asset distribution.
Maguire estimates that Man United has paid back £900m in interest and debt repayments since the Glazers’ takeover in 2005, making it the only Premier League club over the past decade where owners have extracted funds rather than injecting capital.
- Man United fans in uproar as Old Trafford relocation plans spark outrage
- Liverpool to make one last attempt to bring back Michael Edwards to lead post-Klopp rebuild
- Arsenal shortlist four strikers to replace injury-prone Gabriel Jesus
- Premier League reveal April fixture schedule for TV coverage
- Simone Inzaghi wanted by Liverpool, Man United & Chelsea – but who’s the best fit?
- Bowen hat-trick hands West Ham first win of 2024, eases pressure on Moyes
- Chelsea eye Amorim to replace Pochettino this summer
- Analysis: Liverpool did all they could to win the League Cup – and ultimately triumphed
- Everton ten-point deduction reduced to six
- Jurgen Klopp could win the quadruple this season and still not be Liverpool’s best-ever manager