Avram Glazer used a rare public appearance to argue that Manchester United's value is not dependent on success on the pitch. He made the remarks at Deutsche Bank's inaugural Sports Investment Conference in London in September, and they landed at a bad moment for supporters already angry about the club's direction.

Glazer's comments and the numbers around them

Glazer's line was blunt in business terms. He said, in comments reported by the Daily Star, that "United's commercial appeal isn't tied to what happens on the pitch." The Daily Mail carried a similar version of the point, saying he argued that "the club’s value is not dependent on success on the pitch".

The numbers around United explain why the reaction has been so sharp. The club are 17th in the Premier League with 7 points from 9 matches, and their goal difference is -5. Their recent league form is LLDDD. That is a poor run by any standard, and it makes the ownership defence look detached from what fans are seeing every weekend.

Commercially, though, the scale is clear. United's revenue was £152m in 2012-13, then £276m in 2017-18, and £317m in the 2025-26 figure reported. The point Glazer is making is obvious enough: the club remains a huge business even when the football is struggling. Supporters will hear something else, because the team sit near the bottom of the table while the owners talk about brand strength.

The protests around Old Trafford

The comments came in the middle of a fresh wave of anger. Ahead of the Roma match, 2,000 green and gold balloons filled the Stretford End. Tennis balls were later thrown towards the pitch during the game.

That backdrop makes the timing awkward for the Glazers. Fans are protesting form, debt and ownership at once, while the family member speaking in London is stressing commercial resilience. Those are not the same priorities, and the gap between them is wider when the team have 7 points from 9 matches.

The public mood around the club is unlikely to soften quickly, especially with results like this. United's league position is still 17th, and the owners are now being judged against that standing as much as against any balance-sheet argument.

Written by Jack Mercer with AI-assisted research, cross-checked against 3 outlets. How we work →