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Glazer family

FB Roundup: Gautam Adani, Marian Ilitch, Amancio Ortega

November 30, 2022

In this week’s FB Roundup, Gautam Adani wins a bid to develop a Mumbai slum; the Ilitch family expand their pizza chain to the UK; and Amancio Ortega expresses interest in buying Manchester United.

Gautam Adani wins bid to develop Mumbai slum
Just days after finalising the takeover of news broadcaster New Delhi Television Ltd (a deal he considers a “Responsibility rather than a business opportunity”), Indian billionaire Gautam Adani has further added to his responsible investment portfolio after winning the right to redevelop India’s largest slum.

FB Roundup: Mukesh Ambani, Sir Jim Ratcliffe, Pierre Castel

October 17, 2022

In this week’s FB Roundup, Mukesh Ambani sets up a new family office in Singapore;Sir Jim Ratcliffe is blocked from buying Manchester United by the current club owners; and Pierre Castel is hit with a multi-million dollar tax bill.

Mukesh Ambani to set up family office in Singapore
Asia’s second wealthiest man, Mukesh Ambani, is looking to further expand his reach by opening a new family office in Singapore.

The Reliance Industries chairman, whose current net worth is $83.7 billion (according to the Bloomberg Billionaires Index), is reported to have chosen real estate and brought on board a manager tasked with employing new staff to get the office up and running.

FB Roundup: Sir Jim Ratcliffe, the Harris family, Rakesh Jhunjhunwala

August 22, 2022

In this week’s FB Roundup, Sir Jim Ratcliffe shows interest in buying Manchester United; the Harris family finalise a £300 million Butlins deal; and tributes are paid to veteran investor Rakesh Jhunjhunwala.

Sir Jim Ratcliffe interested in buying Manchester United football club
Lifelong Manchester United fan Sir Jim Ratcliffe is said to be interested in buying the Premier League team following reports that its current owners, the Glazer family, may be considering selling a minority stake in the club.

The British billionaire, who has a net worth of $7.18 billion, is the current chairman and chief executive of chemical company Ineos and owns cycling team Ineos Grenadiers, French Ligue 1 football team Nice and Swiss club FC Lausanne-Sport.

FB Roundup: Joel Glazer, Warren Buffett, Bill Gates

May 10, 2021

Manchester United owner Joel Glazer promises angry fans investment and consultation, Warren Buffett’s heir apparent is deal-maker Greg Abel, Bill and Melinda Gates to divorce but continue charitable foundation.

Manchester United owner Joel Glazer promises angry fans investment and consultation

Apologetic co-chairman Joel Glazer has sought to reassure Manchester United fans he and his US billionaire family “care deeply” about the English Premier League football club they own and pledge greater investment and fan consultation.

Manchester United heir sells stake six months after father’s death

December 9, 2014

Six months after the death of First Allied Corporation founder Malcolm Glazer, his son Edward has put his inherited stake in Manchester United up for sale, worth almost £30 million (€38 million).

Six months after the death of First Allied Corporation founder Malcolm Glazer, his son Edward has put his inherited stake in Manchester United up for sale, worth almost £30 million (€38 million).

Moratti family to reduce stake in Inter Milan football club

August 3, 2012

The Moratti family, which owns more than 95% of Inter Milan – one of Italy’s most famous football clubs – is to sell some of its stake to a group of Chinese investors. But unlike other football club-owning families that have recently made headlines, the Morattis aren’t selling to clear off debts.

A statement this week by Internazionale Holding, the football club’s parent, said: “The Moratti family will keep control of the company while the group of Chinese investors will become the second largest shareholder.”

Glazers to retain control of Manchester United with dual-share listing

July 5, 2012

Manchester United looks set for a US listing, but the Glazer family is planning to keep a firm grip on the British football team.

The club is looking to raise about $100 million (€80 million) from a flotation in New York later this year, which will go some way to dealing with the its high levels of debt – it currently owes about £423.28 million (€534 million), mostly related to the Glazer family's controversial 2005 takeover of the team.

First and second-class ownership

October 25, 2011

Class distinction extends to company ownership with families ensuring they are upper class. But what does this mean for corporate governance at family businesses?

As one of the most successful football teams in the world, Manchester United is used to commanding headlines and courting the media. But when reports began emerging in August that the club would be floated on the Singapore stock exchange, no one at United was talking, not least the Glazers, the American family which bought the team in 2005.

Manchester United ‘to delay IPO plans’

September 21, 2011

Manchester United’s planned initial public offering has been put on hold amid continued instability in global markets, according to reports.

The Glazer family, which purchased the English football club in a controversial buyout in 2005, is willing to wait until next year if necessary before listing United on the Singapore stock exchange, the Financial Times said.

Profits soar at Glazer family’s Manchester United

September 1, 2011

Manchester United, the British football club owned by the Glazer family, made a record operating profit of £110 million last season, buoyed by higher match day and media revenues, as well as new sponsorship money.

Manchester United, the British football club owned by the Glazer family, made a record operating profit of £110 million (€124.69) last season, buoyed by higher match day and media revenues, as well as new sponsorship money.