Chief executive David Gill has insisted Manchester United's profits
will 'amply cover' their long-term debt repayments.
Reports have surfaced over the last few weeks that the Glazer
family are struggling to cope with massive interest rates, raising
the possibility they could sell at least part of their stake in the
Old Trafford outfit.
Unnamed consortia from both the Far East and Dubai have been linked
with a potential move for the club, although twice in the last
month, the Glazers have unequivocally denied any desire to do
business.
Gill, who reports to the Florida-based family, has backed up that
theory.
And he revealed United are stable enough financially for fans not
to have any worries over the future.
"Things are going very well," he told Radio Five Live's Sportsweek
programme.
"Because of the changes in the economics of the business, with the
expansion of the stadium and the (new) television deal, both our
revenues, and importantly, our cash profits will be up
significantly.
"We can amply cover what are the long-term financing plans for the
business."
Earlier this year, United did attempt to restructure the debts
incurred by the Glazer's controversial £790million in 2005 but in
the end decided not to.
As a former financial director at Old Trafford, Gill is perfectly
placed to judge United's ability to meet their obligations. And he
sees no cause for concern.
"In the summer of 2006 we put in place a long-term financing plan
which brought down the interest costs on the business as compared
with the takeover in 2005," he said.
"Since then we have fixed the interest rates, we are moving
forward.
"Our interest cover is excellent, and over time we will generate
sufficient funds to make sure the business is on a sound financial
footing, and continues to be so."
And, Gill denied the Glazers had fielded any approach from
interested parties over United, which has been valued at over
£1billion.
"No, no-one has been in," he said.
"These things surface every six weeks but the reality is the
Glazers are long term holders of the club.
"If you look at their other investments, whether it be the Tampa
Bay Buccaneers, or other business investments in the States, they
have held them for many, many years.
"They don't need to sell, and don't intend to sell."