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Manchester United will continue to invest in players, says chief executive David Gill
11-Aug-2012 4:55:00 PM
The Red Devils' CEO insists the club's owners understand the importance of success on the field and will ensure funds are available for the manager to spend in the transfer market
Manchester United chief executive David Gill has defended the club's owners and insisted they understand the importance of continuing the success the club has on the field.Gill spoke following United's flotation on the New York Stock Exchange, an attempt by the club to obtain additional funds in order to reduce the mounting levels of debt at Old Trafford.
Despite the flotation not being as successful as United would have first hoped, Gill stressed that the financial structure put in place by the club means they will continue to be able to spend money on improving the squad.
"We fully understand and the owners fully understand that what happens on the pitch is crucial to us and we will make sure there are sufficient funds to invest in the team going forward," Gill told reporters.
Referring to the club's owners, the Glazer family, the chief continued: "The level of debt that we've had at the club since they've taken over hasn't impacted on what we've done as a team."
The 55-year-old pointed to the club's recent success in the Premier League and Champions League as well as the agreement on a seven-year shirt sponsorship deal with Chevrolet, in order to underline his point that the club can continue to strive forward regardless of the debt.
He said: "We've won four Premier League [titles], we've been to the Champions League final three times, we've had ongoing success on the pitch.
"We're comfortable with the leverage we've had and we believe that given the growth opportunity we've got ahead of us - for example we've signed Chevrolet to a seven-year shirt sponsorship commencing in 2014, which is over twice what our current shirt sponsors make - we've got a lot of interesting and good opportunities to improve our cash flow going forward."
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