Glazers insist United not for sale

THE Glazer family have confirmed their commitment to Manchester United and insisted they have no interest in selling the club.

United’s controversial owners made a short statement to accompany the release of second quarter financial results in response to growing speculation about a massive offer for the club from the Qatar royal family.

It has always been stressed the Glazers view their United status as long-term, a point they are keen to emphasise.

“The board notes recent press speculation regarding a possible bid for Manchester United,” said the statement.

“No discussions have taken place, Manchester United is not for sale and the owners will not entertain any offers.”

Whether that message has any effect remains to be seen. Even a statement from the Qatar Holdings investment vehicle last week insisting there were no plans to launch a buy-out failed to halt the rising price of the bonds issued by United to raise £500million (€585m).

It is widely assumed the Glazers would sell if they were offered a sum of £1.8billion (€2.1bn) – twice what they paid for the club in 2005.

However, mystery continues to surround exactly how they were able to pay off £220m (€257m) of debt earlier this year after already shelling out for punishing rates of interest.

The results themselves show that whilst match day and media revenues have been relatively stagnant, there has been a massive increase in commercial revenues of 30.2%.

In the six months of the year so far, the commercial arm of the club has generated an incredible £50.4m (€58.9m), making it virtually certain United will this year become the first football club to crash through the £100m (€117m) barrier for commercial revenue alone.

However, opponents of the Glazer regime are seizing on the slight dip in match day revenue of £300,000 (€351,000) as evidence of a downturn in popularity that could eventually trigger a sale.