Manchester United plc was today fined £1.652million by Britain's Office of Fair Trading over allegations they fixed the price of replica kits. The club announced the punishment to the Stock Exchange this morning, but insisted they were innocent of any wrong-doing.
A United statement read: "Manchester United was informed today that the Office of Fair Trading has decided to fine the group £1.652m. Manchester United is disappointed that the OFT has taken this action. Manchester United has co-operated fully with the OFT throughout it's investigation and has vigorously and consistently defended its position in relation to the allegations of price fixing. Manchester United maintains that it has not participated in price fixing in the market for replica kit. Manchester United is considering its position with regard to an appeal and a further announcement will be made in due course."
Filed by Johnny Proby
