Glazer Ownership of Manchester United - Aftermath

Aftermath

As a result of Glazer's takeover, a small group of disgruntled Manchester United supporters created a new club called F.C. United of Manchester, which was accepted into the North West Counties Football League second division, six promotions away from The Football League, and secured promotion in each of its first three seasons, twice as league champions.

Following the takeover, Manchester United continued to thrive, with the 2005–06 season seeing Old Trafford's capacity being expanded and a lucrative new shirt sponsorship deal signed in April with American company AIG (which had a large stake in a hedge fund company that helped to fund Glazer's takeover of the club). Increased revenue from TV rights to each competition the club participates in, as well as its successful apparel deal with Nike, also boosted the club's profitability. This came despite fears among many supporters that the debt incurred in buying the club could lead to insolvency. Also, contrary to the fears of many fans, the Glazers took action to ensure that Gill and veteran manager Alex Ferguson remained at Manchester United, citing the duo's success with the club. In 2006, Malcolm Glazer made strong indications that he was at Manchester United for the long haul by appointing his other two sons, Kevin and Edward, and his daughter, Darcie, to the Manchester United board as non-executive directors.

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