MUST: Glazers are costing United

MUST: Glazers are costing United

Published Feb. 26, 2011 3:36 p.m. ET

Opponents of the Glazer family have urged the Americans to seize the opportunity to sell Manchester United at a realistic price.

It has been claimed the Qatar Royal Family are planning a £1.5billion offer for United, although sources close to the Qatar Holdings group, through which any purchase would be made, are adamant there have been no such discussions and there are no plans for any either.

However, noting a slight downturn in matchday revenue amid an overall increase in turnover, Duncan Drasdo, chief executive of the Manchester United Supporters' Trust, feels opposition to the Glazer family is starting to have a negative effect.

"Clearly with pressure building on the Glazers from many angles - not least the decline in matchday revenues confirmed in these financial results - it makes sense for them to exit now - given a willing buyer.

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"It seems the only obstacle is the outlandish price the Glazers appear to seek.

"While the cash value impact of the decline in matchday revenues and indeed the drop in merchandise sales at the club's flagship Megastore, may have been masked by continued commercial growth the significance of this decline should not be missed.

"This is a clear indication of the cost of the Glazers' ownership.

"Bad relations with supporters directly impacting on the bottom line and surely this is only the tip of the iceberg as the damage to supporter affinity impacts on future sponsorship values too.

"To put it simply - the negativity surrounding the Glazers' ownership is costing United money."

It is widely assumed the Glazers would sell if they were offered an astronomical sum.

It also means mystery continues to surround exactly how they were able to pay off £220million in payment-in-kind notes earlier this year after already shelling out for punishing rates of interest.

And, with commercial revenues rising by 30.2% to £50.4million, making it virtually certain United will this year become the first football club to crash through the £100million barrier for commercial revenue alone, the Glazers appear intent on hanging around.

"The board notes recent press speculation regarding a possible bid for Manchester United," said the statement.

"The owners remain fully committed to their long-term ownership of the club.

"No discussions have taken place, Manchester United is not for sale and the owners will not entertain any offers."

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