'Finance Chiefs Plotting Man U Takeover'
Tuesday March 02, 2010
Top city financiers have held a secret meeting over a possible bid for Manchester United, according to Sky News sources.To view this content you need Flash and Javascript enabled in your browser.
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Representatives from law firm Freshfields and investment bank Goldman Sachs, among others, are involved.
Sky sources said the group, informally known as the Red Knights, met to discuss the possibility of taking control of the football club from the Glazer family.
Sky's city editor Mark Kleinman, who broke the story, told Sky's Jeff Randall: "I should caveat all this by saying that the Red Knights campaign is at a very early stage, and while it has the support of influential fan bodies such as the Manchester United Supporters’ Trust (MUST), it’s possible that those involved may conclude it’s not ultimately viable."
He added: "Having said that, the summit - the first formal gathering under the Red Knights banner - is the most significant evidence so far of the seriousness of the campaign to win back control of United."
I understand that a statement is likely to be issued in the next couple of weeks that would confirm the Red Knights' existence and ask for financial and other support from United fans.
Sky News City editor Mark Kleinman
Any serious offer would need to raise around £1bn, Kleinman said.
A statement from the Glazer family said the Old Trafford club was not for sale.
Many Utd fans are bitterly opposed to the Glazer family, staging weekly protests at home games while dressed in green and gold shirts and scarves.
They are angry that the club has been allowed to accrue debts of around £700m.
The Glazers' recent £500m bond issue has crystallised opposition among fans to their continued ownership of the club, Kleinman said.
They claim the the debts have prevented manager Sir Alex Ferguson dipping into the transfer market.
Cristiano Ronaldo was sold last season for £80m but United fans have seen little in the way of big name purchases to replace a man considered the best footballer in the world.
The Manchester United Supporters' Trust distributed thousands of anti-Glazer attire at Sunday's Carling Cup final against Aston Villa at Wembley.
The colours refer to Newton Heath, the club founded in 1878 that then became Manchester United in 1902.
Tuesday March 02, 2010
Top city financiers have held a secret meeting over a possible bid for Manchester United, according to Sky News sources.To view this content you need Flash and Javascript enabled in your browser.
Please download Flash from the Adobe download website.
Representatives from law firm Freshfields and investment bank Goldman Sachs, among others, are involved.
Sky sources said the group, informally known as the Red Knights, met to discuss the possibility of taking control of the football club from the Glazer family.
Sky's city editor Mark Kleinman, who broke the story, told Sky's Jeff Randall: "I should caveat all this by saying that the Red Knights campaign is at a very early stage, and while it has the support of influential fan bodies such as the Manchester United Supporters’ Trust (MUST), it’s possible that those involved may conclude it’s not ultimately viable."
He added: "Having said that, the summit - the first formal gathering under the Red Knights banner - is the most significant evidence so far of the seriousness of the campaign to win back control of United."
I understand that a statement is likely to be issued in the next couple of weeks that would confirm the Red Knights' existence and ask for financial and other support from United fans.
Sky News City editor Mark Kleinman
Any serious offer would need to raise around £1bn, Kleinman said.
A statement from the Glazer family said the Old Trafford club was not for sale.
Many Utd fans are bitterly opposed to the Glazer family, staging weekly protests at home games while dressed in green and gold shirts and scarves.
They are angry that the club has been allowed to accrue debts of around £700m.
The Glazers' recent £500m bond issue has crystallised opposition among fans to their continued ownership of the club, Kleinman said.
They claim the the debts have prevented manager Sir Alex Ferguson dipping into the transfer market.
Cristiano Ronaldo was sold last season for £80m but United fans have seen little in the way of big name purchases to replace a man considered the best footballer in the world.
The Manchester United Supporters' Trust distributed thousands of anti-Glazer attire at Sunday's Carling Cup final against Aston Villa at Wembley.
The colours refer to Newton Heath, the club founded in 1878 that then became Manchester United in 1902.