Glazer PR own goal re: 1.5 billion bid rejection
MUST response to reports in the press today suggesting the Glazers rejected a 1.5 bn offer.
Duncan Drasdo, chief executive of MUST said:
"The timing of this PR manoeuvre is cynical and smacks of desperation coming just ahead of the last game of the season and an anticipated bid from the Red Knights. Could anyone seriously believe the Glazers would reject a vastly overvalued bid of 1.5 billion just at the time when they were so desperate for money last year? They have been taking personal loans out of Manchester United as well as scrabbling around to refinance the debt with the recent bond issue while their businesses in America are reported to be in deep trouble. In any case this supposed bid was prior to the launch of the recent supporters Green & Gold campaign so has no bearing on the current situation. Anyone still interested in making a bid for United would be extremely foolish not to talk to supporters and the Red Knights but it is of course very possible they are now part of the Red Knight consortium anyway. There can only be one deal in town for the Glazers and so this kind of PR spin won't impact on the price."
"If they really don't want to sell and the supporters campaign is having no impact then there would be no need to start this recent PR offensive would there?"
"The only logical explanation can be that firstly they are interested in selling and this is all about trying to push up the price. Secondly they are rattled by the supporters protest and desperately hoping to damp it down. Thousands of supporters are expected to delay renewal of season tickets at least to the first deadline on June 13th and many others have committed to not renewing until the Glazers sell. This pressure will come on top of the collapse in demand for tickets and executive facilities which has come as a result of the economic conditions. We have seen unsold tickets and hospitality even for the biggest games this season so a season ticket is seen as an expensive irrelevance for those who'd prefer to pick and choose which games they want to attend."
"The smugness of boasting about "owning the best house on the hill" is breathtaking and will disgust many supporters who have endured eyewatering ticket price rises since the Glazers took over. Whoever is advising them on PR has scored a spectacular own goal with this strategy. This spin that the Glazers intend to try to cling on to ownership will only make supporters more angry and far from reducing the opposition this is going to grow the protest and make fans more determined. This is not going away and they are hugely underestimating Manchester United supporters if they think otherwise. Supporters have a key role in sending that message to them."
Selection of press coverage:
The Sun: Man Utd fear anti-Glazer demo
goal.com - Reported £1.5 Billion Bid For Manchester United Rejected By Glazers Blasted As 'Desperate' PR Stunt
The Independent - Glazer's accused of 'desperate' charm offensive
sportingintelligence - MUST say ‘cynical’ revelation of £1.5bn offer for Man Utd ‘smacks of desperation’
The Guardian - Red Knights to press ahead with offer for Manchester United