According to Laurie Whitwell of The Athletic, Manchester United co-owner Avram Glazer has told an audience of financiers at Deutsche Bank’s inaugural Sports Investment Conference in London that sporting institutions on the level of Manchester United do not have to be an on-field success to earn commercial profit.
The 60-year-old American went on to compare United to the Dallas Cowboys and the New York Yankees, arguing that these institutions' value is cushioned by their sporting variance.
The Yankees have not won the World Series since 2009—a 17-year drought—while the Cowboys have not won the Super Bowl since 1995, a 31-year wait for another championship.
Both American clubs boast considerable historical success. The Yankees are the most successful team in baseball history, with 27 World Series titles, while the St. Louis Cardinals are second with 11. The Cowboys have won five Super Bowls, putting them joint-second alongside the San Francisco 49ers, behind only the six-time champions Pittsburgh Steelers and New England Patriots.
United last won the Premier League in 2013, whilst their wait for a Champions League title stretches back 18 years to 2008. Unless by a divine miracle, neither of these will change this season, and it is unlikely to change in the coming years, having been unable to mount a serious title challenge despite coming second on two occasions in the Premier League, once under Jose Mourinho in 2017/18, and again under Ole Gunnar Solskjaer in 2020/21.
Malcolm Glazer, the father of Avram, took control of the club in 2005 through a highly controversial leveraged buyout, and the Glazer family has remained in control throughout the following 21 years despite multiple fan-led protests.
Glazer comments reinforce fan frustration
Glazer’s comments will not come as a surprise to Manchester United fans, but they will still leave many with that familiar sinking, pitiful feeling that has accompanied much of the family’s reign.
Since the takeover, the club’s finances have been burdened by debt, with supporters repeatedly questioning the family’s investment and the money extracted from United.
Across more than two decades of ownership, Premier League clubs have accumulated a total interest cost on borrowings and financial debt of £3.5 billion, according to Kieran Maguire.
Manchester United account for 35 per cent of that total, having racked up £1.15 billion in interest costs—more than £700 million above second-placed Tottenham Hotspur.
Since 2005 Premier League clubs have had a total interest cost on borrowings and financial debt of £3.5bn.
— Kieran Maguire (@KieranMaguire) October 25, 2026
One club and one set of owners is responsible for 35% of the total. #Glazernomics
Figures per @valuball pic.twitter.com/VAZnuRVC7h
In United’s Champions League fixture against Roma on Tuesday evening, an umpteenth protest was made, with fans releasing green and yellow balloons—the colours of Newton Heath, the club's original name—and tennis balls were hurled onto the pitch.
Throughout the Glazers’ reign, United’s success on the global stage has dwindled, while the matchday experience for supporters has come under increasing scrutiny.
Glazer’s comments may reflect a successful commercial model, but it underlines the divide between the priotiers of the ownership, and expectations of fans.
After 21 years of the Glazer family gutting the club, United stand in a perilous position—a giant trembling on the brink.
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