Manchester United is ‘Not for Sale’

Old Trafford yesterday night hosted a ‘Not for Sale’ board outside dismissing rumours that a Bangkok based Chinese consortium was putting up a 1 Billion GBP bid. Currently, the American Glazer Family owns the Premier League Club and rumours were ripe that Man U were struggling to repay their £60m-a-year interest on their £700m debt.

Last week Man United Manager, Sir Alex Ferguson had denied rumours that he had no money left at the Club to fund transfers. Newspaper reports were rife with speculations that the owners were looking to sell in the midst of the financial crisis. But a spokesperson for the Glazer Family put it firmly by quoting, “The club is not for sale. Simple as that.”

The spokesperson also pointed that while the alleged newspaper who reported the bid of 1 Billion GBP had also printed a similar story three years back. But since then, the club has gone from strength to strength. He further added that recently the club was valued at £1.5bn.

The newspaper report in question had mentioned that six Chinese billionaires were working on this deal and were even willing to take part control if The Glazers didn’t sell full stake. But with Fergie and the spokesperson coming out in the open with firm comments, it becomes imperative that Man U is not up for sale. It may be added here that Malcolm Glazer had taken over the club in May 2005 for a fee of £790m.