History of Manchester United F.C. (1945–69) History of Manchester United F.C. (1945–69) Manchester United Football Club is an English professional football club, based in Old Trafford, Greater Manchester, that plays in the Premier League. Founded as Newton Heath LYR Football Club in 1878, and changed its name to Manchester United in 1902. United had been league champions in 1908 and 1911, as well as winning the FA Cup in 1909, but the interwar years were less successful as financial problems blighted the club, who spent the 1920s, and 1930s bouncing between the First and Second Divisions. The club's Old Trafford stadium was then severely damaged in
Glazer ownership of Manchester United 98% ownership of the club via their Red Football parent company, forcing a squeeze out of the remaining 2%. The final purchase price of the club totalled almost £800 million. Most of the capital used by Glazer to purchase Manchester United came in the form of loans, the majority of which were secured against the club's assets, incurring interest payments of over £60 million per annum. The remainder came in the form of PIK loans (payment in kind loans), which were later sold to hedge funds. Manchester United was not liable for the PIKs, which were held by Red Football