What Qatar Really Wants from Manchester United: The Untold Story Behind the Scenes
The Glazers’ choice to sell a minority stake to Ratcliffe’s Ineos Group—eventually amounting to a 28.94% share—was seen as a compromise. It allowed them to retain majority control while offloading responsibility for football operations to a more hands-on investor. Since that deal, United’s financial and on-field situations have continued to deteriorate. The club’s valuation on the New York Stock Exchange has plummeted to levels reminiscent of its 2012 listing, now hovering around $14 per share. The drop in valuation mirrors the club’s poor performances: their worst league finish in 50 years, widespread staff redundancies, and mounting debt, now estimated to exceed £1 billion when accounting for transfer fees and interest.
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