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Red Knights shelve plans to bid for Manchester United
Consortium seeking a 'fairer' price...
2 Jun 2010 12:07:00
By Zack Wilson
The Red Knights group confirmed on Wednesday that their interest in purchasing Manchester United from the Glazer family has been put on hold for the present.
It had been anticipated that the group would make a bid for the Old Trafford giants before the World Cup.
However, the Glazer family's consistent public refusal to consider any offers, as well as the reported rejection of a £1.5 billion bid for the club from a Middle Eastern consortium, seems to have put paid to the campaign for the present, although matters do not appear to have been completely closed just yet.
"The Red Knights remain committed to pursuing their efforts to try to help bring ownership of Manchester United to its supporters, and under a structure with materially less debt," a statement released on behalf of the group said.
"As we have maintained however since news of our ambitions first emerged in March, we will only attempt to purchase the club at a sensible price, consistent with the long-term interests of the club.
"Persistent speculation in the media of inflated valuation aspirations has made our goals less attainable, as potential investors have strongly reinforced our views that we should not move forward at a price uneconomic for the future of the club."
That would seem to indicate that the group will only proceed should the club be available at what they regard as the fair market price of £1bn.
The Manchester United Supporters Trust (MUST), a group who have been the focus of much of the protest against the Glazer family's ownerwhip, may now make fresh calls for a boycott of season tickets and merchandise to try and force the Americans to think again.
But with yet another new sponsorship deal signed this week it may well be almost impossible to exert significant economic pressure on the Glazers.
"We understand that many supporters were hoping that we might be in a position to make a bid before the season ticket renewal deadline," the Red Knights' statement continued.
"However, our approach is best served by long-term interests of all. We have never taken a stance on season ticket renewals, it is a personal choice for all supporters.
"We have spent some considerable time assessing the value of the club.
"If the fundamentals lead to a more realistic re-assessment then, along with our co-operation with MUST and other Manchester United supporters, we will aim to achieve our goals."
It had been anticipated that the group would make a bid for the Old Trafford giants before the World Cup.
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However, the Glazer family's consistent public refusal to consider any offers, as well as the reported rejection of a £1.5 billion bid for the club from a Middle Eastern consortium, seems to have put paid to the campaign for the present, although matters do not appear to have been completely closed just yet.
"The Red Knights remain committed to pursuing their efforts to try to help bring ownership of Manchester United to its supporters, and under a structure with materially less debt," a statement released on behalf of the group said.
"As we have maintained however since news of our ambitions first emerged in March, we will only attempt to purchase the club at a sensible price, consistent with the long-term interests of the club.
"Persistent speculation in the media of inflated valuation aspirations has made our goals less attainable, as potential investors have strongly reinforced our views that we should not move forward at a price uneconomic for the future of the club."
That would seem to indicate that the group will only proceed should the club be available at what they regard as the fair market price of £1bn.
The Manchester United Supporters Trust (MUST), a group who have been the focus of much of the protest against the Glazer family's ownerwhip, may now make fresh calls for a boycott of season tickets and merchandise to try and force the Americans to think again.
But with yet another new sponsorship deal signed this week it may well be almost impossible to exert significant economic pressure on the Glazers.
"We understand that many supporters were hoping that we might be in a position to make a bid before the season ticket renewal deadline," the Red Knights' statement continued.
"However, our approach is best served by long-term interests of all. We have never taken a stance on season ticket renewals, it is a personal choice for all supporters.
"We have spent some considerable time assessing the value of the club.
"If the fundamentals lead to a more realistic re-assessment then, along with our co-operation with MUST and other Manchester United supporters, we will aim to achieve our goals."
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| Sign up with William Hill for a free bet up to £25 |
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| Sign up with bet365 for a free bet up to £200 |
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