Glazers reject Red Knights £1.5bn bid to buy Manchester United

07 May 2010 09:23
The Red Knights' hopes of taking over Manchester United have suffered a blow as it emerged the Glazer family have already rejected a £1.5 billion bid for the club.

A Middle East consortium made the offer towards the end of last year but were turned down flat, with the Americans talking about staying at Old Trafford for the next 10 years.

Here to stay: The Glazer family have rejected a £1.5bn takeover approach from the Red Knights consortium

It is thought several bids of more than £1bn have been received and casts doubt on the viability of the Knights' approach. The Glazers' refusal to sell underlines their determination to outlast the supporters' campaign to oust them.

The Knights, a group of businessmen led by former United director and chief Goldman Sachs economist Jim O'Neill, value the club at around £800million.

Unrest: Manchester United supporters have been vehement in their protests to oust the Glazer family at Old Trafford

Manchester United, meanwhile, will undertake a three-country tour of Canada, North America and Mexico from July 12-30.

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Source: Daily_Mail

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