Quick enquiry
  • Footy Insider

Manchester United face Chelsea ahead of bid by Qatar royals

While most of the nationals and TV have concentrated on Sunday's clash with Chelsea, the first real test for Sir Alex Ferguson side this season, the Daily Mirror courted the Reds fans by saying the Qatar’s royal family are preparing a bid around £1.5bn to buy the club.

It was reported that a delegation headed by Sheikh Hamad bin Khalifa Al Thani, will be in Manchester on Sept 19 to negociate a deal.

Duncan Drasdo, chief executive of Manchester United Supporters Trust told the paper that fans would support an owner that introduced a more sustainable business model to the club (than the Glazer's).

“We would like any potential new owner of Manchester United to use the club's own revenues to fund the football club, rather than extracting money from it, as the current owners are,” he said.
 
"Manchester United generates enough money from its own commercial activities to compete with the very best teams in the world.”

The Glazer family bought Manchester United in 2005, substantially increasing the debt in the club.

Manchester United earlier this month reported record full year profit and revenue, strengthening its hand ahead of its planned flotation. The club said earnings before interest, tax, depreciation and operation (EBITDA) rose to £110.9m in the year to end June from £101.2m last year.

The club said total revenue increased to £331.4m, up £45m on the year incorporating a 27 percent rise in commercial revenue boosted by the club's £80m shirt sponsorship deal with Aon Corp.
That helped it swing to a pretax profit of £29.7m, compared with a loss of £15m last year.

The Manchester United brand carries substantial Commercial opportunity and with the floatation in Singapore on course the Glazer family are in a strong position should they decide to sell.
 
George Moss

Web design by Brick technology Ltd.