Sensational Manchester United Takeover Bid Rejected

By on May 7, 2010

Man Utd Glazers

By Football Talk.

Manchester United owners, the Glazer family, have rejected a bid of £1.5bn to buy the club from a Middle East consortium, according to a report in the Guardian. Apparently this was one of several bids to buy the club, with all of them valuing Manchester United at over £1bn and all of them turned down.

These revelations show in no uncertain terms that the Glazers have no desire to sell the club, despite heavy protests against their ownership by Man Utd fans. The report also suggests the Glazers are making plans to stay at Old Trafford for another 10 years. This sensational news will come as a huge blow to not only the majority of United fans, but the Red Knights who are close to mounting a takeover bid themselves. The group of businessmen will also be concerned by the figures already rejected by the current owners, as the Red Knights value to club at nearer £800m.

The latest bid by the Middle East consortium was made at the end of 2009 and was rejected out of hand by the Glazer family, despite the £1.5bn offer far exceeding United’s £1.19bn valuation in the Forbes football rich-list. It is also understood that the consortium were discouraged from making any further bids to buy the club.

This is not what Manchester United fans will want to hear. Thousands of supporters have been campaigning against the Glazer’s with the hope that ‘fan-power’ would see the American owners up sticks and sell their interest in the club. Over 150,000 people have joined the Manchester United Supporters’ Trust, who are the group at the heart of the anti-Glazer movement, and have been increasingly vocal at their disdain for the current regime. However, the Glazers are said to be un-moved by the protests against them and are focused on continuing their association with Manchester United for the foreseeable future.

The news is sure to be a massive set-back for the Red Knights, who were reported to be close to making a formal bid in the coming weeks. Even if they were to offer substantially more than the initial £800m they had discussed, the Glazers are sure to reject it such is their desire to remain at Old Trafford. They are believed to enjoy being associated with a successful football club and plan to attend more games in the coming seasons.

What do Manchester United fans think of this news? Is it worrying to hear the Glazers have already turned down bids of up to £1.5bn and where does this leave the Red Knights? Please leave your comments below…

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One Comment

  1. TomPier

    May 8, 2010 at 6:56 pm

    great post as usual!

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