Red Knights rule out swift bid

26 March 2010 10:39
Manchester United will not be the subject of a takeover bid from the Red Knights before the end of the current season, the group has confirmed. The group of wealthy United fans - who count Goldman Sachs chief economist Jim O'Neill and leading football powerbroker Keith Harris among their number - have emerged as possible new owners of the Old Trafford club in recent weeks. Fans concerned at the level of debt placed on the club by the Glazers following their takeover in 2005 have been involved in a growing movement against the American owners in recent months. However, the Red Knights will not be launching any takeover bid before the current season ends in May. "In the next few weeks we will continue to work on our proposal," read a statement from the group. "We do not expect this to be finalised before the end of the current football season. "This will have the advantage of minimising external distractions as the team enters the decisive period of the season."

Source: ESA