Red Knights takeover plans Glazer ownership of Manchester United

an anti-glazer sticker on lamppost in strangeways, manchester

a fan campaign known love united hate glazer has existed since origin of family s bid take on club. campaign has involved spreading of slogan , acronym luhg around various locations via stickers , graffiti. number of banners have been displayed in stands @ old trafford.

despite restructuring, announcement club s debt prompted vociferous protests manchester united fans on weekend of 23 january 2010, both @ old trafford , @ club s carrington training facility. non-violent protest organised club s supporters groups, following on love united hate glazer campaign had existed since 2005, , encouraging match-going fans wear green , gold, colours of manchester united s precursor club, newton heath. few days later, on 30 january, reports emerged manchester united supporters trust had held meetings group of wealthy fans view buying out glazers controlling interest in club. group met keith harris, manchester united fan , chairman of investment bank seymour pierce, broker takeover.

on 2 march 2010, further reports emerged group – dubbed red knights – had met again discuss possibility of billion-pound takeover of club. present @ meeting included investment bank goldman sachs chief economist , former manchester united director jim o neill , lawyer mark rawlinson, partner @ law firm freshfields bruckhaus deringer, duncan drasdo, chief executive of manchester united supporters trust, , keith harris, executive chairman of seymour pierce. initial goal of group increase supporters trust s membership @ least 100,000, demonstrate fans support change in ownership. better promote themselves, trust enlisted services of blue state digital, internet strategy firm worked on barack obama s 2008 presidential election campaign.

later day, manchester united announced gross debt final 3 months of 2009 totalled £507.5 million, reduction of £30.6 million compared same period in 2008. reported pre-tax profits of £6.9 million, increase of £9.6 million after making loss of £2.7 million previous year. announcement accompanied statement glazers spokesperson club not sale, public support david gill, claimed glazers running club right way .

meanwhile, membership of manchester united supporters trust passed 100,000 mark on 3 march, before exceeding 125,000 week later. green-and-gold scarf campaign grew, large portions of old trafford crowd showing colours. following manchester united s 4–0 victory on milan in champions league first knockout round tie, former manchester united player david beckham seen wearing scarf had been thrown onto pitch; however, later claimed merely showing support manchester united, , running of club not [his] business . claimed united manager alex ferguson prepared invest own money in red knights bid, dismissed these reports absolute rubbish .

given amount of debt on manchester united s books @ time, analysts estimated in 2010 takeover bid have had total more £2 billion, of around £1.6 billion needed match glazers valuation of club – double paid club in 2005. however, red knights publicly stated pay fair price when takeover bid came. on 11 march 2010, red knights appointed nomura securities co. advisers takeover bid. nomura advised manchester united board before glazers bid buy club. red knights later admitted not make bid club before end of 2009–10 season, believed preferred bid option have involved retaining £500 million bond issued glazers. two-thirds of further £700 million provided 30–40 wealthy manchester united fans, remainder provided fund-raising ordinary fans. once club secured, shares offered fans, allowing them take ownership of club. despite these plans, red knights put takeover bid on hold in june 2010, citing inflated valuation aspirations in media reason. having stated pay sensible amount club, group thought have baulked @ suggestion glazers valuation of club higher amount willing pay.