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The Guardian - UK
The Guardian - UK
Sport
Kieran Maguire

How Manchester United are making big profits and huge losses at the same time

Manchester United Jim Ratcliffe Glazers Alex Ferguson Glazer the Premier League Chelsea Ebitda EPL Ineos
Sir Jim Ratcliffe and members of the Glazer family in a composite photograph
Sir Jim Ratcliffe points to Manchester United’s financial problems – and his fellow owners the Glazers have contributed to the club’s losses. Composite: Getty

When Sir Jim Ratcliffe’s minority investment in Manchester United was announced on 24 December 2023, many fans thought it an early Christmas present. Presented as a locally born lad and lifelong fan, he was a multibillionaire and was putting some of his hard-earned (but not hard-taxed) money into the club.

Ratcliffe’s investment gave him control of the football operation and in the mind of many fans the post-Ferguson slump in major trophies was coming to an end. Enterprising Mancunians started selling Muga (Make United Great Again) baseball caps, the club defeated Manchester City in the FA Cup final and the good times were about to roll again … until they didn’t.

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