Manchester United co-chairman Avram Glazer (Image: Getty Images). Manchester United co-owner Avram Glazer has admitted he has no intention of selling the club despite the club’s ongoing struggles this season.. The American businessman, 60, and his family retain a controlling stake in United despite sanctioning the sale of a minority stake to Ineos chief, Sir Jim Ratcliffe, last year.. The Glazers’ involvement at Old Trafford has angered some United supporters, many of whom have protested against the ownership since Avram and his late father, Malcolm engineered a takeover in 2005.. Many had hoped that the Glazer family would consider leaving United for good after announcing plans for new investors in November 2022. At the time, the Glazers announced it was “commencing a process to explore strategic alternatives”, which gave some United fans hope that they could sell up.. Over two years on and the Glazers remain in situe – despite the arrival of Ratcliffe and Ineos in February 2024 – and the American family do not intend to depart Manchester anytime soon.. Avram was quizzed by a Sky Sports reporter in the United States on Wednesday while he was visiting US president Donald Trump, and claimed he is not planning to sell. When asked if he would ‘sell up’, Avram replied: “No.”. Avram’s sharp response comes a matter of hours after it was revealed that the net debt accrued following the Glazers takeover in 2005 has reached over the £1billion mark.. United published its second quarter financial results on Wednesday, with the club’s status as a Plc with shares traded on the New York Stock Exchange seeing them release fiscal results every quarter.. The financial results for Q2 showed that United made a loss of £27.7million for the three months up to the end of December 2024, with total revenue at £198.7m compared to £225.8m for the corresponding period 12 months prior.. Among the details in the quarterly report showed a net finance cost of £37.6m, a sum related to interest on club borrowing, and one that took United’s net cumulative interest paid since the Glazers acquired the club to over £1billion, as per football finance expert Kieran Maguire.. United believe that the the significant interest was due to an ‘unfavourable swing in exchange rates resulting in unrealised losses on unhedged USD (dollar) borrowings in the current year quarter’.. Article continues below. As well as this, United had to fork out £10.4m to pay off Erik ten Hag and his coaching staff following the Dutchman’s dismissal in October. A further £4m was paid to Dan Ashworth after he left the club in December.
