Kieran Maguire: New Man United owners could be Glazers 2.0 as controversial details emerge
The new Man United owners could pursue the same ownership model as the Glazers if Ed Woodward is enlisted to advise the takeover process.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the latest details emerging from behind the scenes at Old Trafford.
The Glazers went public last Wednesday (23 November) with their plans to sell the club after almost 20 years in control.
Several groups have since been linked with a takeover, including several private investment firms from the Middle East and United States.
The Daily Mail reported last Thursday (24 November) that former United executive vice-president Woodward is in the frame to advise potential buyers.
The former JP Morgan banker was a deeply unpopular figure at Old Trafford, with many fans seeing him as the driving force behind United’s prioritisation of commercial performance over success on the pitch.
The Glazers took cash out of the club in the form of dividends and, after completing the purchase of the club through a leveraged buyout, seldom invested any money into infrastructure.
Maguire fears that there could be more of the same to come if Woodward is a key player in the takeover process.
“Ed Woodward once said that Man United do not need to win football matches to be successful commercially,” he told Football Insider’s Adam Williams.
“I think that is why Man United fans will see red flags upon hearing he could be on the buy side of the deal, advising parties that want to acquire the club.
“So, you have to define what the best outcome for the club is. A club consists of many stakeholders. One stakeholder is the owners, and there is no doubt that they will come away with a multi-billion pound profit.
“Banks have also made over £850m in interest from lending to the Glazers.
“Fans will be disappointed over the course of the last decade in terms of what they have seen on the pitch.
“But if that is of secondary importance to an Ed Woodward-related buyer, the new ownership could be more of the same.”
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