How much did the Glazers buy Manchester United for amid potential sale of the club?

Manchester United on Wednesday announced that the owners of the club, the Glazers are considering selling the team as part of exploring strategic alternatives for the side. According to a statement issued by the English Premier League team, a process to explore strategic alternatives for the club in order to enhance the club's future growth has already commenced. The process will now allow the United board to consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company. 

"As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.  This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders," the statement read. 

How much money did Manchester United cost the Glazers?

As the process of a potential sale begins, let's take a look at how much Manchester United cost the Glazer family. American businessman Malcolm Glazer, the owner of Manchester United, bought the majority shares of the Old Trafford club between 2003 to 2005 for an estimated sum of £790 million. When Glazer acquired the ownership of the club, it was one of the most successful football teams in Europe, not just in England. At the time, United was debt-free but after the club's sale to the Glazer family, it has burdened itself with around £500 million in debt. 

Glazer's takeover of United had triggered massive protests among the club's fans due to financial concerns. After Malcolm Glazer suffered a stroke in 2006, his sons Joel and Avram took charge of the club. Malcolm Glazer died in 2014 but the ownership of the club remained in the family, which still controls its 90% stake. As per reports, if the sale of the club gets a nod from the Glazers, it would go for somewhere between £5 to £9 billion. 

Image: AP