Man Utd not for sale, say Glazer
family
Manchester United is not for sale at any price, the
Glazer family insisted on Friday.
A group of wealthy United fans calling themselves the Red
Knights have been trying to put together a takeover bid to buy out
the Glazers, while supporters at Old Trafford have taken to
protesting against the American family's perceived financial
mismanagement.
It had been suggested that the pressure from the Red Knights and
the highly-visible green and gold scarf protest, which saw United
fans don the colours of the team's forerunner Newton Heath, could
make the Glazers decide to sell.
But the Americans, who bought the Premier League club in 2005,
have quashed any suggestion they may be willing to walk away.
As they released their latest quarterly statement, the Glazers
took the opportunity to dismiss any sale talk.
"The Board notes recent press speculation regarding a possible
bid for Manchester United. The owners remain fully committed to
their long-term ownership of the club. Manchester United is not for
sale and the owners will not entertain any offers," the statement
read.
The figures included in the latest financial statement show
growth in all revenue areas, apart from match-day, which has gone
down by one million pounds (1.4 million dollars) compared to the
same three month period last year.
Overall debt now stands at 520.9 million pounds (758 million
dollars), although that sum does not include the controversial
payment-in-kind (PIK) notes for which the Glazer family are
themselves responsible and now attract interest at 16.25
percent.
Despite the debt mountain, the Glazer family have succeeded in
making United a far more streamlined operation, with their
satellite commercial arm in London netting over 200 million pounds
(291 million dollars).
AFP