News : Glazers have no plans to sell Manchester United, club insists
MANCHESTER, England - Manchester United dismissed speculation that the Glazer family may be looking to sell the club.
“They don’t need to sell, and don’t intend to sell,” United’s Chief Executive David Gill said Sunday.
A Chinese consortium had reportedly expressed interest in the Red Devils, while a rival group with connections to the United Arab Emirates’ royal family was also said to be considering a bid.
Malcolm Glazer, who also owns Tampa Bay’s NFL team, bought United for US$1.47 billion (C$1.471 billion) in 2005 and Gill insisted that profits are sufficient to “amply cover” the club’s long-term debt repayments.
“No, no one has been in,” Gill said. “These things surface every six weeks but the reality is the Glazers are long term holders of the club. If you look at their other investments, whether it be the Tampa Bay Buccaneers, or other business investments in the States, they have held them for many, many years.”
Since winning the Premier League title last season, Glazer has financed the purchase of more than US$100 million (C$100.09 million) worth of players, including Argentina striker Carlos Tevez.
