Just a few hours after we told you about the royal family of Qatar eying a £1.5 billion bid for Manchester United, now the Glazers have confirmed their commitment to Manchester United as expected and made it clear that they have no interest in selling the club.
The Glazer family made a statement earlier, in response to speculation about this supposed offer for the club from Qatar Holdings. The American owners stated for the second time in nine months, the club is ‘not for sale’.
The statement said;
“The board notes recent press speculation regarding a possible bid for Manchester United. The owners remain fully committed to their long-term ownership of the club.”
“No discussions have taken place, Manchester United is not for sale and the owners will not entertain any offers.”
However, we still believe that the Glazers would sell the club if they were offered an astronomical sum. Earlier this month, a number of reports suggested £1.8 billion would be enough to force them out of the club, which would be more than twice the sum they actually paid for United back in 2005.
Earlier this week, a Manchester United spokesman insisted the American owners still owned 100% of the club, after many reports claimed a Qatari group helped them pay off £220 million payment-in-kind, at the beginning of the year. Today’s results showed United’s debt has decreased from £512.5 million one-year ago to £489.4 million.
Last summer, the Red Knights, a collection of financial figures who seemed interested in a takeover at Old Trafford, approached a number of investment banks including, Japanese bank Nomura, wondering if they would be a financial advisers for the London based group – they then figured out the club wasn’t worth more than £1 billion. But now, according to other reports, the Glazer family want at least £1.5 billion, making them a huge £700 million profit.
This seems like an never ending nightmare, doesn’t it!