Martin Edwards 'concerned' by Manchester United's £700m debt burden

08 October 2009 08:48
Edwards, who continues to watch games from the Old Trafford directors' box as United's honorary president, remains a divisive figure among supporters. He floated the club on the Stock Exchange in 1991 and negotiated to sell United three times to Robert Maxwell, Michael Knighton and BSkyB respectively. [LNB]The 64 year-old, who recruited Sir Alex Ferguson as manager in 1986, had become a marginalised figure at Old Trafford by the time of the Glazer takeover in May 2005. But with United burdened by annual interest repayments of £45 million on the growing debt, Edwards, chairman from 1980-2002, admits there are many question marks over the Glazers' business plan. [LNB] Related ArticlesWiley stats dampen Ferguson claimsFerguson needs 'severe' punishmentPatrice Evra's swipe at LiverpoolFA asks Ferguson to explain referee commentsGive us a break, FergusonSir Alex Ferguson facing FA charge'It concerns me that the club are in so much debt. The club are not in control,' he said. 'The [Glazer] family are in control of the debt and I can understand where the fans are coming from with their concerns. [LNB]'I thought that time would tell whether they would be good owners and I still think that, although I don't think they have done anything drastically wrong so far. [LNB]'The crunch time will come when they exit. Will they saddle the club with the debt or just sell the club on for a profit because that's all they are interested in? How will they leave the club? Time will tell.'[LNB]Edwards famously resisted calls for Ferguson to be sacked during the 1989-90 season and he believes the Scot, who is 68 in December, will remain in charge at least until his 70th birthday. [LNB]'The manager is still very important and he's had one hell of a run,' Edwards said. 'I think he'll think about moving on when he gets to 70. He will have done more years than Matt Busby and his legacy will be there for evermore. [LNB]'The next appointment is a huge decision and hopefully a manager will emerge to take over from Sir Alex.'[LNB]Edwin van der Sar is set to dislodge Ben Foster from the United first team against Bolton a week on Saturday after proving his fitness in a reserve team outing against Everton on Tuesday. [LNB]Van der Sar, 38, has been sidelined with a thumb injury since July but, with Foster making a series of mistakes in recent weeks, the veteran goalkeeper is expected to return against Bolton. [LNB]He said: 'I will be ready for Bolton. I feel good and I haven't had any reaction. The Bolton match is still 10 days away so I have more training to do and then I will be ready for my first start of the season.'[LNB]EmailPrint .at15t_email {display:none !important;}Share|tweetmeme_url = 'http://www.telegraph.co.uk/sport/football/leagues/premierleague/manutd/6269976/Martin-Edwards-concerned-by-Manchester-Uniteds-700m-debt-burden.html';tweetmeme_style = 'compact';tweetmeme_source = 'TelegraphNews';Email|Printhttp://www.telegraph.co.uk/sport/football/leagues/premierleague/manutd/6269976/Martin-Edwards-concerned-by-Manchester-Uniteds-700m-debt-burden.htmlTelegraphNews Man Utd 

Source: Telegraph