Gill speaks out on United finances

MANCHESTER United chief executive David Gill has said the club’s under-fire owners will not be selling property assets to raise funds.

Speaking to BBC Radio 5Live Mr Gill said Old Trafford and the club’s Carrington training ground complex would remain under the “complete control” the the club.

He also said that the Florida-based Glazer family – which borrowed millions to buy the club for £790m – were not selling out.

The club and the Glazers have come under intense scrutiny in the last month as details of the club’s finances emerged during a successful £500m bond issue.

Among the most controversial issues contained in the bond prospectus was that Carrington and Old Trafford could be sold and then leased back to the club.

Mr Gill said: “I can categorically confirm Carrington and Old Trafford will never be sold to raise funds.

“The sale and lease back opportunity for Carrington within the bond document is done for financial and tax planning.

“Manchester United will continue to have complete control over that asset and if it ever happened it would be for a peppercorn rent if it happens.

“But I am 100% convinced the sale and lease-back of Old Trafford will never happen under the Glazer ownership. I say that unequivocally, with no hesitation.”

Meanwhile leading football financier Keith Harris – head of investment bank
Seymour Pierce – said at the weekend he had been approached by wealthy investors to try and put a bid together for the club.

Mr Harris, who brokered the sale of Chelsea and Aston Villa in recent years, is a United fan.

Manchester stockbroker Nigel Mills of Hedley & Co believes someone of Mr Harris’ calibre should be taken seriously: “I don’t think he would be involved if there was not serious money and interest in United – he won’t talk to just anyone.
“It all depends on the Glazers and whether they would listen to offers.”