According to The Athletic, published on October 26, 2026, Manchester United’s prolonged struggles on the pitch and financial difficulties have raised fresh questions about the decisions made by the club’s owners, the Glazer family and Sir Jim Ratcliffe.

The report by football journalist Oliver Kay examines why the Premier League club has struggled to maintain consistent performances despite its significant commercial revenue and global reputation. It argues that the problems extend beyond managerial appointments and reflect deeper issues within the club.

Manchester United have recorded just 32 victories in 84 Premier League matches since the beginning of the 2024-25 season, according to the figures cited in the report. Twelve of those wins came during a 17-game period under Michael Carrick last season, highlighting how difficult it has been for the team to sustain positive results.

The report also identifies a strong spell under former manager Erik ten Hag during the 2022-23 campaign. However, such periods of improvement have been limited, with the team struggling for consistency across different managerial regimes.

United’s finances are another major concern. The Athletic estimates that more than £1 billion has been spent on interest payments, refinancing costs and bond buybacks associated with the Glazer family’s leveraged takeover of the club in 2005.

Despite generating £677.6 million in revenue, Manchester United have faced pressure to reduce their wage bill and make difficult recruitment decisions. Previous transfer-market mistakes and the cost of servicing debt have added to the challenges of assembling a balanced squad.

Ratcliffe became a minority shareholder in early 2024, raising expectations that a more strategic approach would help restore the club’s competitiveness. However, Kay’s assessment is critical of the decisions made under his involvement, questioning whether the changes introduced have delivered the expected improvements.

The wider concern is that replacing managers will not resolve Manchester United’s difficulties unless the club also addresses its recruitment strategy, financial commitments and leadership decisions.

For a club with United’s resources and history, restoring consistent success requires a clear long-term plan. The challenge for its leadership is to ensure that decisions made away from the pitch translate into better performances and more competitive results on it.