William Healey was the president of Newton Heath Football Club

Manchester United F.C.

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, the club changed its name to Manchester United in 1902 and moved to Old Trafford in 1910.The 1958...

 in the 1890s and one of the club's principal creditors.

In 1897, a friendly tournament was inaugurated for clubs in the Manchester and Salford area. Healey provided a trophy for the tournament the following year, and the competition became known as the Healey Charity Cup.

Around the turn of the 20th century, Newton Heath's fortunes began to diminish, both on the pitch and in their bank balance, and they found themselves more than £

Pound sterling

The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...

2,500 in debt. Eventually, Healey took the club to court in order to claim back the £242 17s 10d

Penny (British pre-decimal coin)

The penny of the Kingdom of Great Britain and later of the United Kingdom, was in circulation from the early 18th century until February 1971, Decimal Day....

 that he was owed. Due to their large debts, the club was unable to repay Healey and was declared bankrupt. Fortunately, they were soon rescued by local businessman John Henry Davies

John Henry Davies

John Henry Davies was a wealthy brewery owner who in 1902 took over the British football club Manchester United, which was then called Newton Heath. The club had massive debt at the time....

and renamed "Manchester United". Davies took over as club chairman, thus ending Healey's association with the club.