Glazers deny takeover deal

Manchester United’s owners have denied rumours of a takeover deal in a statement issued alongside the latest financial results.   They said that ‘no discussions’ with buyers had taken place and that they would not entertain any offers.  Last week Qatar Holdings, the investment vehicle of the country’s royal family, denied it had plans to launch a bid.

Manchester United’s owners have denied rumours of a takeover deal in a statement issued alongside the latest financial results.   They said that ‘no discussions’ with buyers had taken place and that they would not entertain any offers.  Last week Qatar Holdings, the investment vehicle of the country’s royal family, denied it had plans to launch a bid.


Increased commercial sales saw overall club revenue increase in the six months to 31 December from £144.7m to £156.5m.  This increase was largely due to a new sponsorship deal with Aon, the US insurance broker, which helped lift commercial revenue by 30 per cent from £38.7m to £50.1m.   Manchester United are on course to become the first football club to pass the £100m mark for commercial revenue. Pre-tax profits remained stable at £21.8m.


Gross debt declined from £512.5m to £489.4m, largely due to a decision by the Glazers to buy back £24m of company bonds.   This saved something like £2m in annual interest expenses.  Nevertheless, interest paid on loans rose from £18.8m to £23.6m in the six month period.


The club has a cash pile of £134.5m which could be used for transfers after the retirements of Gary Neville and Edwin van der Sar or investments in facilities.