Glazers reject £1.5 billion bid
The Guardian is reporting The Glazer family, maligned owners of Manchester United, has adamantly rejected a £1.5 billion bid from “a secretive Middle East consortium” as the American owners remain in in their claim that the club is not for sale.
The offer was made towards the end of 2009 and the bidding party, who’s identity was not released, was told not to make a second offer. The offer is substantially more than the £1.19 billion Forbes.com valued the club at last month.
If the offer turns out to be legitimate, it deals a serious blow to the Red Knights, the highly publicized group of wealthy supporters who have led a loud protest against their American owners. The Red Knights, led by former Manchester United director Jim O’Neill, had been expected to make an £800 million bid for control of club but are now forced to at least double their bid amount, and even that might not be enough to sway the Glazers.
United skipper Sir Alex Ferguson is reported to have an extremely positive relationship with the Glazers, who have brought three straight EPL titles and a Champions League to Manchester since 2007. Also, due to the ferocity of the attacks leveled against them, the Glazers are a lot more likely to sell to a foreign investor than the green-and-gold scarf wearing supporters if the prices are similar.
Benitez Holds “Constructive” Talks With Liverpool
A week ago, it was widely assumed that Rafa Benitez would leave Liverpool for Juventus over the summer and Liverpool was already looking for its next manager. But recent talks between Liverpool chairman Martin Broughton and Benitez were described as “positive” and the pair are creating a summer transfer budget. This, coupled with Juvetus’ reported interest in other coaches, means the Spaniard could stay at Anfield, a move many supporters oppose.
It was also reported this morning that Liverpool faces a bleak financial future and are having trouble paying interest to their creditors. “The city is aware that Liverpool will be posting a £35 million operating profit to July 31, but from what I can see the club will be running out of cash by the end of the year,” said financial expert David Bick. The club posted losses of £54.9 million this season which means that without the money coming in from the Champions League next year the Reds will be forced to sell some of their top players.