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Wednesday, 28 May 2014

Malcolm Glazer dies: Man Utd's former owner passes away at 86

Malcolm Glazer

Malcolm Glazer dies: Man Utd's former owner passes away at 86

Malcolm Glazer, the billionaire who led a controversial takeover of Manchester United, has died at the age of 86. 

The Glazer family purchased United for £790m in May 2005 amid protests from the Premier League club's fans.

However, they went on to win five Premier League titles and the Champions League under his ownership.

The New York-born American's sons, Joel and Avram, took over the day-to-day running of the club after their father suffered a stroke in April 2006. 

"The thoughts of everyone at Manchester United are with his family tonight," said a spokesman for the Premier League club.
The Glazer family retain a 90% share in United - split equally among Glazer's six children - with 10% listed on the New York Stock Exchange.

Glazer, who never actually stepped foot inside Old Trafford, gradually bought out United shareholders between 2003 and 2005.

His takeover was largely funded by loans secured against the club's assets, a move that took them heavily into debt and sat uneasily with many fans at Old Trafford.

 Glazer is survived by his wife Linda, his six children and 14 grandchildren.

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