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Glazer family to rule out sale of club in next financial figures

Thu 24th Feb 2011 | Money & Finance

Manchester United will release their latest financial figures in the next few days which are expected to reiterate the Glazer family’s insistence that the club is not for sale.

It’s anticipated that the figures will place greater scrutiny on the clubs rising wage bill, and include details of a potential drop in shirt sales as a consequence of the fans' anti-Glazer protest.

There has been speculation over recent weeks that United have held takeover talks with Qatar Holdings.

This has been strenuously denied as reports of a £1.6 billion deal was about to be struck. The latest results will show the Glazers determination to put the story to bed with a definitive statement on their position at the club in the quarterly accounts.

According to ESPNSoccer the results for the financial quarter ending Dec 31, 2010, will be posted, possibly on Friday, with a statement to bond holders aimed at preventing the value of the bond growing due to constant links with a big money takeover.

The club's high-yield bonds have risen to record levels due to the takeover speculation.

The Glazers issued a similar statement in their quarterly accounts last May, prompted by the ill-fated Red Knights' interest in the club.

A spokesperson for Manchester United told ESPNSoccer the results would be out "at the end of the week or the beginning of the following week.”

"At the end of each quarter the figures are presented to the bond holders within 60 days, so these figures will be available before the end of February. There will be no comment on any of the figures until then."

 

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