LONDON - A group of wealthy supporters
looking into a possible bid for Manchester
United said they would not overpay, and dismissed financial
numbers circulating in the media as purely speculative.
The Times newspaper reported on Friday that 60 investors
have pledged up to 1.5 billion pounds in their
bid to seize control of the club. A spokesman for the group said
they had received a very good level of interest.
The "Red Knights", a collection of City figures including
former Football League chairman Keith Harris and Goldman Sachs
Chief Economist Jim O'Neill, have said they are looking
at the feasibility of putting together a bid for the world's
third-richest football club.
"No specific discussions have been held in relation to the
value of Manchester United," the group said in a statement.
"People are talking about putting their own money in and are
only going to do so if it's at a fair and reasonable price.
"Every penny over a fair price that goes to the Glazers in
profit is less money that could be spent on putting the club on
a sound financial footing after any takeover."
The group said the talks were at an early stage. The Glazer
family, who also own the Tampa Bay Buccaneers American football
team, have said the club is not for sale.
The Glazer family bought Manchester United in 2005 for about
790 million pounds against a wave of opposition from fans who
feared they were loading it up with too much debt.
The club raised a 500 million pound bond in January to
refinance its debts. The latest accounts show the club owed 507
million pounds at December 31 2009.
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