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Red Knights keep up pressure on Glazers

A statement from the Red Knights will be issued around 9am this morning (Weds 2nd June), but before it is we wanted to share this article from the Manchester Evening News with members. We believe this is probably the most accurate portrayal of the current situation we've seen in recent media coverage. There will be a great deal more said and written elsewhere, but remember to not always believe everything you read!

MUST will be issuing our own statement to the press shortly after the Red Knights, and we will be sharing that with members too via the blog so check here later today:


Red Knights keep up pressure on Glazers

James Robson, Manchester Evening News
June 01, 2010

The Red Knights face a crunch meeting on Tuesday when they are expected to reaffirm their determination to wrest control of Manchester United from the clutches of the Glazers.

But the mega-rich consortium of investors refuse steadfastly to meet the £1.5bn valuation of the club.

While that will not sound the death knell for their much-publicised bid for United, it means any offer could have to wait until after the World Cup.

Despite reports over the weekend claiming the Knights were on the verge of pulling the plug on their proposed bid to oust United's controversial Florida-based owners, they have let it be known their interest remains very much intact.

But they refuse to pay over the odds - even if that effectively rules out their hopes of a quick sale.

Instead - with financing in place - they would rather play the waiting game and see the pressure increase on the Glazers before making a bid in the region of £1.2bn. And that is what will be on the agenda when the Knights get together.

The Glazers insist United are not for sale at any cost - reiterating that stance last week.

In a statement they said: "The owners remain fully committed to their long-term ownership of the club. Manchester United is not for sale and the owners will not entertain any offers."

The Glazers even claim they rejected a £1.5bn offer from a mystery Middle East investor last year.  [note - which we have good reason to believe wasn't £1.5bn at all, and in any case is irrelevant as it was before the supporters' Green & Gold campaign]

But the Red Knights - led by Goldman Sachs banker, Jim O'Neill, and backed by the hugely successful Green and Gold campaign - believe the gritty American businessmen can be tempted to sell, despite all their public assertions to the contrary.

While a bid before the World Cup has not yet been ruled out, it is becoming increasingly likely it will now happen after the showpiece tournament, which starts on June 11 - especially if they are determined not to meet the £1.5bn valuation.



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