The Red Bugle · Independent. Informed. United.

Money out of United, money into City.

Red masthead: “Show Me the Money!” — Rod Tidwell, played by Cuba Gooding Jr., in Jerry Maguire (1996).

Manchester United and Manchester City: the ownership and trophy ledger

The Glazer family completed its takeover on 28 June 2005. BBC Verify reported about £1.187bn of United cash costs in 2005–2024; City’s 2018 accounts reported more than £1.3bn of ADUG support since 2008. These are different periods and definitions, not a like-for-like net cash total.

Before takeover, using all prior club history through 2004/05, United won 32 major trophies and City 9; with Community Shields, 47 versus 12. After takeover, through 2025/26, the totals are United 15 versus City 22, or 21 versus 26 with Shields. Historic Cup Winners’ Cups and United’s Intercontinental Cup count; lower-division, youth and women’s honours do not.

An independent comparison of owner funding, withdrawals and men’s first-team trophies over the 21 seasons from 2005/06 to 2025/26. Research updated 21 October 2026.

United won 15 trophies excluding Community Shields, against 22 for City. Including Shields, the totals are 21 and 26. United paid £166.187m in dividends to all shareholders. The reported cash-flow interest series totals £842.720m across FY2006–FY2026, with FY2006 covering 14 months. Related-party management fees incurred in FY2010–FY2012 were £13.325m; the older £10m aggregate overlaps and is not added. Annual directors or wider key-management remuneration is separately labelled. City’s cash interest, loan-interest charges, management/service charges and club directors’ emoluments are now shown separately. Missing cash-payment disclosures remain N/P; a loan-interest charge is not a payment, and club-only nil remuneration is not a CFG-wide zero.

The independent Commission identified £830.69m of disguised City owner funding between 2009/10 and 2017/18. City denies wrongdoing and has appealed. These funding measures have different scopes. Unavailable disclosures are labelled N/P, not zero.

Read the complete sourced report · Download the 21-season Excel workbook · Sources and methodology

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