Football

United owners not interested in sale

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The Glazer family have slapped a 'not-for-sale' notice on Manchester United.

Speculation has grown since the turn of the year about a likely offer from the Red Knights group aimed at seizing control of the debt-laden Old Trafford outfit and - fuelled by the highly visual 'green and gold' campaign - there has been a feeling that the Glazers might entertain the Red Knights if the price, which would have to be well over £1billion, was right.

But on Friday the Glazers released a statement, which read: "The board noted 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 figures included within the statement show growth in all revenue areas, apart from matchday, which has gone down by £1million compared to the same three month period last year.

Overall debt now stands at £520.9million, 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 an eye-watering 16.25%.

It is the statement about the club's future that is of most interest though. United have become increasingly bullish recently about their ability to ride out the green-and-gold campaign, and the call for a boycott of season tickets that looks certain to accompany any rejection of the Red Knights bid.

That now is certain given the strength of Friday's statement.

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 £200million alone. A huge number of sponsorship announcements have been made over the past four months as part of a targeted marketing operation.

This summer, the club will head to North America on a lucrative summer tour, even though their World Cup stars, including Wayne Rooney and Rio Ferdinand will not be involved.

There will continue to be plenty of debate about Sir Alex Ferguson's transfer policy. Critics of the Glazer family continue to insist Ferguson is being hamstrung by debt.

Copyright (c) PA Sport 2009, All Rights Reserved.

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Topics:
Football
Premier League
Manchester United

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