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Glazers - We won't sell United

02 Mar 2010 12:19:47

Glazers - We won't sell United

The Glazers have slapped a Not for Sale sign on United after the so-called Red Knights stepped up their takeover bid. The group of wealthy Reds fans, who are disenchanted and angry at level of debt at Old Trafford heaped on the club by their American owners, are understood to have held a secret meeting in London. The summit, which is said to have been held in the Fleet Street offices of law firm Freshfields Bruckhaus Deringer, is the first under the banner of the Red Knights. Keith Harris, United fan and head of the merchant bank Seymour Pierce, began assembling the group of investors when Old Trafford's latest financial figures were revealed and the £716m debt laid bare in January. Fans were furious at the level of debt, the bond issue that raised £500m to help ease the burden and the revelation that six members of the Glazer family had borrowed money from the club. Harris, who brokered Roman Abramovich's takeover of Chelsea and is a renowned football finance expert, was approached initially by the Manchester United Supporters Trust (MUST) to head up wealthy Reds supporters who wanted to oust the Glazers. Representatives from law firm Freshfields and investment bank Goldman Sachs, among others, are involved in the move to acquire the funds to make an offer to tempt United's Florida based owners to sell. But despite the first gathering of the Red Knights the group will be bashing their heads against a brick wall if the Glazers opt not to sell. Members of the family were at Wembley on Sunday to watch the Carling Cup final and witness first hand the highly visible green and gold campaign among fans unhappy with the Glazers. What is clear is the Red Knights' determination to put an offer on the table and they are expected to make release a statement today. What do you think? Have your say.


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