Glazers - United not for sale

[CDev]

The Glazer family have confirmed that Manchester United is not for sale and that they will not entertain any offers for the club.

Pressure has been mounting on the club's American owners since the Red Knights investment group expressed an interest in taking control earlier this year.

Many supporters have joined the 'green and gold' campaign criticising the approach of the Glazer family.

United chief executive David Gill admitted this week he was growing tired of the protests, while the Glazers have always maintained they are not interested in selling up.

And they have continued to stand firm by releasing a statement that makes it clear they would not consider any takeover bids.

The statement 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."
Growth

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%.

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.