Glazers have no plans to sell Manchester United, says Ed Woodward

Ruben Hill
October 20, 2019

Manchester United owners, the Glazer family, have no intentions of selling the club, according to chief executive Ed Woodward, amid speculation that the Saudi Crown Prince wants to buy the USA investors out.

However, Woodward has said that he believes the Glazers, who have reportedly turned down two previous offers from Bin Salman, are in it for the long hall at Old Trafford.

Fans have planned a protest against the Glazers ahead of Sunday's Premier League meeting against Liverpool with United languishing down in 12th in the table.

There are reports that Saudi Arabia's crown prince Mohammed bin Salman would like to buy United, but the executive vice-chairman denied there had been any concrete bids.

That decision has seen United's share prices increase and they're now understood to have a market value of just over £2bn.

While their position still stands, the recent choice of co-owner Kevin Glazer to put his 13 per cent stake in the Premier League club, worth £270million, on the New York Stock Exchange suggests it could changing.

Woodward also defended the Glazers record of leveraging huge debts upon the club.

The Glazers have been derided by fans angered by the financial drain on the club since their 2005 takeover, which has cost around £1 billion in debt repayments, interest, fees, refinancing penalties and other costs.

'It's a fixed amount for a fixed period of time which results in it being fairly cheap to service.

There have been numerous calls for the six Americans to sell up in recent years, particularly as United have not won a Premier League title since Alex Ferguson's retirement in 2013. We are not successful until we do.

Other reports by Click Lancashire

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