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Glazers wont sell Manchester United for 'many, many years' according to club vice-chairman

Updated: Tuesday, 23 Oct 2012 18:21

The United hierarchy still believe the Americans remain excited about the Old Trafford project
The United hierarchy still believe the Americans remain excited about the Old Trafford project

Manchester United's owners will not sell the club for "many, many years" despite ongoing interest, according to vice-chairman Ed Woodward.

The sell-off of 10 per cent of the Glazers' shares in the club in the IPO sale in August raised some questions over the American family's long-term involvement, but Woodward said they had no interest in cashing in the rest of their holding.

Woodward also insisted the club was rich enough to compete to sign any player Alex Ferguson wants despite needing to service interest payments on the £360million debt.

On the Glazers, Woodward said: "There is always interest in this business. It is a phenomenal brand and club, but they are not willing sellers at all, they won't even engage, they are long-term investors.

"It's a very popular business that people have interest in. The answer is: 'not for sale'.

"I talk to them [the Glazers] every day and the excitement they have in this club is undiminished, and I don't see them selling completely for many, many years."

Woodward did accept however that one of the Glazers could dispose of their shares at some point.

He added: "They could - they are a family of six siblings and from time to time, seven to 10 years, who knows if one wants to sell a small piece or not."

Woodward insisted the club's debt, partially reduced due to the IPO sell-off, was easily handled by United's income and there was plenty of money to buy players.

"They are not willing sellers at all, they won't even engage, they are long-term investors" - Ed Woodward on the Glazers

He said: "We have a pretty low level of leverage. Interest payments of £31million leaves a significant amount of money, around £76million and we decide what we do with that.

"We are very comfortable about the ability to fund the interest and there will be more income growth next year from the new Premier League media deal.

"Every single player Alex Ferguson has wanted to buy he has been supported. Some have slipped through our fingers but we have never said that we cannot afford a player.

"Robin van Persie is a good example, one of the best players in the world and we easily had the financial capacity to do that."

Woodward revealed that India and Australia are both on a shortlist of countries for United to tour in the summer.

The club are also to open an office on the east coast of the United States to cash in on growing interest in football in North America.

"The US is a really big opportunity. The media rights for the World Cup were a record and we are expecting the Premier League to have a good outcome there again," said Woodward.

"Football has taken off in the US from being a niche sport only three or four years ago."

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