Glazers – Manchester United is not for sale



Glazers

Glazers

Manchester United’s controversial American owners have reaffirmed their stance that the club is not for sale.

In response to news that a Qatar Royal Family is preparing a bid, they announced a short statement to accompany their second quarter results.

“The board notes recent press speculation regarding a possible bid for Manchester United,” said the statement.

“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.”

The results show that the Glazers have reduced United’s debt from £512million, to £489million by the end of the year.

Commercial revenues have also increased a massive 30%, and have pulled in over £50million in the past six months.

If United continue to do deals with companies like DHL they will become the first club to break the £100million barrier in a season.

Uniteds overall turnover grew £12million to £156million, although operating costs increased to £96million.

The club also bought back £24million of their own bonds to reduce their debt levels, and saved the 8% interest they were paying before, leaving them with £134.5million in cash reserves.

Should the club need to, they can still put those bonds back on the market.

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