Manchester United owners warned they have run out of road and should sell |  UK News

Manchester United owners warned they have run out of road and should sell | UK News

Former Manchester United manager Michael Knighton is putting his own ambitions to buy the struggling club on hold to back Sir Jim Ratcliffe to become the new owner.

Knighton told Sky News the Glazers “ran out of the way” and should be sold.

The American family has given no indication that it is willing to bow to fan pressure by selling the record 20-time league champions after 17 years.

But Mr. Ratcliffe went public this week with his desire to potentially invest in the club the billionaire has supported since childhood before making his fortune in chemicals with INEOS.

Knighton told Sky News: “My message to the Glazer family is that you have run out of your way. Please, with honour, with dignity, with professionalism, just quietly push out the exit door now. Your time is up, be over and the man selling this football club to Britain’s Sir Jim Ratcliffe”.

Knighton had been building his own consortium and claims to have raised more than £3bn, but Ratcliffe’s wealth dwarfs his financial power.

“We need every Manchester United fan to get behind Sir Jim Ratcliffe,” Knighton said.

“If Jim doesn’t do it, we’ll be there. We’ll be launching the hostile offer.”

Read more:
Sir Jim Ratcliffe’s determination should not be underestimated in any way.

Many fans want the Glazer family to sell
Image:
Many fans want the Glazer family to sell

Knighton saw his own £20m bid for United collapse in 1989. The last change of ownership at Old Trafford was to the Glazers in 2005 for £790m in a takeover that saddled the club with debt that it now around 500 million pounds sterling.

Fans are furious at the more than £1bn it has cost the Glazers to pay off debt while collecting dividends from the club.

In the nine years since Sir Alex Ferguson retired, United have spent more than £1bn on players, but poor transfer decision-making has prevented the club from regaining the Premier League trophy since 2013. .

The new season began with two defeats, including a 4-0 humiliation at Brentford on Saturday that no member of the Glazer family was in London to see.

Knighton added: “Every entrepreneur in the country, certainly at some level if they have a business background, knows that these people will be looking for a way out.

“They’re hurting their own brand, they’re hurting their investment, and of course everything else in the world is for sale for the right price. They are damaging and reducing the value of their own shareholding.”

There was no comment Thursday on future ownership of the club that has been listed on the New York Stock Exchange since 2012.

Leave a Reply

Your email address will not be published.