No, at this point the game at the top level in England is way beyond that. They are mostly owned by various international billionaires, oil states, venture capitalists, etc.

They both have American sports conglomerate owners. Adding to previous comment — the Glazers (ManU owners) are widely despised by the ManU fan base because of how much money they have taken out of the club and saddled it with debt. They also grossly mismanaged player contracts hiring the wrong people after the best coach in football history retired. So they have other reasons to sell. There are very few football clubs that have “dynastic” owners because it became a great way to make money. A few years ago a Welsh team’s mascot went from the bluebirds to the dragons because roof their Far East Asian owner.