Man Utd not for sale say Glazers
MANCHESTER United’s owners, the Glazer family, have scotched reports of a
£1bn takeover from an un-named Far East consortium.
A spokesman for the US-based Glazers said simply: “Manchester United is not for sale”.
The publicity-shy family bought Manchester United in 2005, in a leveraged deal worth £790m.
Recently there has been renewed speculation over the health of the club’s finances.
The speculation erupted after United backed out of a £10m deal to buy a player from Serbian club Partizan Belgrade.
Partizan officials claimed a “financial crisis” at Manchester United was the reason behind the collapse of the transfer – a claim angrily rejected by the club.
Manchester United has debts of nearly £700m – which costs £60m a year to service in interest payments.
Reports have also said that the Glazer family’s attempts to refinance expensive Payment In Kind debt – arranged in 2005 – has been hit by the financial crisis.
