Source: Manchester_EveningNews
Fred Done part of move to buy United
MULTI-millionaire Fred Done is one of the mysterious Red Knights looking to potentially make a bid to buy United, it can be revealed. MEN Sport is aware the Salford-born bookie, who until the start of this season was the Reds' official betting partner, has been approached by a legal 'Mr Fixit' to be part of the group of Manchester-based big hitters looking to replace the Glazers. The lifelong United supporter has become increasingly disillusioned with the direction in which the club has been going under the controversial ownership of the Glazer family. Just last month, he criticised the owners, telling MEN Sport: "From what I can see, the Glazers have not put any value on the club since taking over. When they finally cash in and sell up they will leave the club a poorer place than when they took over. "If we are not careful we could end up like another Portsmouth, who look like they are headed for administration. "Sponsorship will be the next thing to drop off. And don't tell me that United are too big to go bust. Just look at the Royal Bank of Scotland and AIG. "I think both David Gill and Sir Alex Ferguson are being forced to work with their hands tied behind their backs. My criticism is entirely of the Glazers." Self-made tycoon Done, who has been invited to talks with fellow interested parties, is the first of the 50-strong rich Reds interested in being part of a Barcelona-style management of United to be identified. Barcelona style Fans own the Spanish giants with a board of directors in control under a elected president. Done, whose Warrington-based betting empire has 840 shops in the UK and is the biggest independent bookmakers in the world, will be having further hush-hush discussions next week. Keep-fit fanatic Done, 66, who lives in Worsley, would not discuss in detail his involvement, merely saying: "I have always got United close to my heart." The wealthy Red Knights are coming together in an attempt to provide the financial muscle that might tempt the Glazer family to sell United. It is likely to cost the would-be buyers over £1bn if they are to persuade the Americans to end their four-and-a-half year ownership of the Reds. The group of rich businessmen has been galvanised into action following the recent announcement of United's figures and the launch of a bond issue, drawn up to help manage United's £716m debt, which is more than twice oversubscribed. Experts in the City of London believe that points to United being in good financial shape. But supporters have not been placated and want the once debt-free club to be owned by a Supporters' Trust but run by professionals. Football finance expert Keith Harris, a United fan and CEO of investment bank Seymour Pierce, has been approached by the Red Knights as the move to buy out the Florida-based Glazers escalates. He has said: "We don't know if the Glazers can be made to listen but there is serious intent on the part of people who have support in their hearts. The time feels right." Harris, Done and the other Red Knights have been heartened by the fast-growing anti-Glazer green and gold scarf protest campaign backed by the Manchester United Supporters Trust (MUST). What do you think? Have your say.
