UNITED resisted an £850 million takeover bid
-
MANCHESTER UNITED have sensationally resisted an £850 million takeover bid from a Chinese consortium.
We can reveal a Midlands-based finance expert made the shock move three months ago on behalf of Far Eastern investors. They hoped that United's American owners, the Glazer family, would want to rid themselves of the £660m debt they currently have after buying the club two years ago. But United's joint chairman, Joel Glazer and chief executive David Gill refused to even respond to the Chinese interest. Gill would only say last night: "As it's an ownership matter, it's a matter for the family and their represenatives — not for me."
The Chinese used Rugby-based Lisa Hale, asset manager of Rosevalley Commercial Ventures, in collaboration with lawyer Richard Devaux, who has experience in commercial sport activities and has worked for the FA. The pair were convinced the Chinese had the financial might to buy United outright. But the Glazers, who gained control of United after a controversial and protracted £790m takeover, have always insisted they are at the club for the long haul. And last night they even catagorically denied any bid had been received, let alone considered,
Targets
A spokesman said: "Manchester United are the world's biggest club and, of course, it is coveted but anyone who thinks that it is up for sale is mad. "The Glazers are in it for the long haul and are determined to ensure success both on and off the pitch." The Chinese attempt is a further sign the leading Premiership clubs are now seen as prime targets for overseas groups wanting to cash in on the growing global benefits to be gained from English football.
With their economy expanding rapidly, Chinese businesses do now have the financial clout to muscle in on top clubs. A leading football consultant said: "The power of the Chinese should not be underestimated. Their influence is growing fast and I would not rule out an eventual move by them into one of the top Premiership clubs. -
Is this a way to make fans believe in the Glazers again?
Cheers.
CK -
what if they offer 1 billion pounds? -
doh.. i hope it aren't true
-
yea that sounds like a good idea and import the whole Chinese team into Man United to play in and out..every weeek...Originally posted by allentyb:
what if they offer 1 billion pounds?
-
UNITED NOT FOR SALE - GLAZERS
The Glazer family have warned off any potential suitors for Manchester United by confirming the Old Trafford club is not for sale. Reports have surfaced of an £850million bid for United from a Chinese consortium who were hoping the Glazers would want to offload the club they acquired in such controversial circumstances two years ago. It is claimed contact was made with United by a midlands-based finance expert on behalf of the consortium.
However, sources close to the Glazer family have rejected the story, claiming no-one has approached them over any potential buy-out. And, while the Americans, who will be strongly represented at Old Trafford today when Sir Alex Ferguson's side will be presented with the Premiership trophy, admit they can do little to prevent such rumours, they are adamant they have no intention of offloading United.
"There has been no approach from any consortium, there has been no offer and, even if there had, it would not have been considered," said a family spokesman. "The family are absolutely and totally committed to Manchester United over the long term. "They are determined to make United more successful, both on and off the pitch and are unequivocal in their stance that the club is not for sale."
There is a certain irony in the words given the 'Not For Sale' slogan was used by the fans' groups vehemently opposed to the takeover by Malcolm Glazer, owner of NFL team Tampa Bay Buccaneers. However, having paid £800million for the club in the first place and already negotiated massively-increased sponsorship deals, there would hardly seem to be any point in selling now, especially with a huge new television contract due to come into force next season. -
Oh my goodness, what happens if another consortium offers like say, double the amount of debt, like 1.2B, would they resist?
-
hack, i still hate glazers
-
well, if the 50M warchest is real, I could sway my opinion.
-
in the long run man u will still be the biggest force in the EPL.
there are lots of money to be made there.
RA wont stay at chelsea forever. -
Glacers won't kill the golden goose...
As for Roman, who knows. -
lets think of it this wat.. glazers are businessmen.. and in buying United, not only did they lay their hands on one of the most profitable club in Football, they also got a free 'prestige & self promotion' by taking over United..
how many of us actually even knew Glazers actually existed or what the heck they did..? Overnight, after the take over, you've just got a couple of hundred millions of football fans who knows you by your name and your corporation..now thats one hell of a 'free' promotion... -
IMO glazers would be more acceptable than the chinaman...
at very least you know that they won't interfere with the day-to-day running fo the club...