Manchester United’s ongoing struggles have been heavily influenced by the Glazer family’s financial decisions.
Under their ownership, the club has accumulated over £2 billion in debt, and their financial mismanagement has led to significant issues under the Premier League’s Profit and Sustainability Rules.
The situation worsened when Sir Jim Ratcliffe-led INEOS acquired a minority stake in the club, buying a 27% share for £1.2 billion, a deal that added more financial pressure.
To mitigate the situation, Ratcliffe has had to implement job cuts and other financial measures, but much of the damage is attributed to the Glazers’ ownership.
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Former Manchester United director Peter Kenyon has not held back in his criticism of the Glazer family’s handling of the club, especially regarding their decision-making in the past.
Kenyon, speaking on the Business of Sport podcast, and relayed through the Daily Mirror, expressed his frustration with how United has been managed over the last decade.
He specifically pointed to the lack of a succession plan when Sir Alex Ferguson and David Gill left Old Trafford within a short period of time.
“The downfall of United was the success of United in that they didn’t have a succession plan,” Kenyon remarked.
“You don’t let the two people who have influenced the club for many years, the manager and the CEO, to leave at the same time.
“It’s a joke.
“You should be shot for that.”
Peter Kenyon’s frustration was further clear when he compared the situation to any other business losing two key employees simultaneously.
“What business would let their two key employees walk out of the door on the same day? You don’t even know where the plug sockets are to plug stuff in!
“Don’t get me on that.
“It really annoys me,” he added.
Peter Kenyon was referring to the departure of Ferguson and Gill nearly twelve years ago, which marked a turning point for the club’s fortunes.
Since then, Manchester United has struggled to return to its former glory, plagued by poor decision-making, financial woes, and a lack of stability at the top.
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