Man Utd calls off takeover talks

Click to follow
The Independent Online

Manchester United said today it rejected a business plan from US sports tycoon Malcolm Glazer and ended takeover talks.

Manchester United said today it rejected a business plan from US sports tycoon Malcolm Glazer and ended takeover talks.

The club said an outline plan presented by Mr Glazer was not in its best interests because any offer would rely too heavily on borrowed money.

Its existing financial set-up gave it a "distinct commercial advantage" to exploit opportunities and invest in the team, United said in a statement.

But the former Premiership champion club pledged to continue discussions with Mr Glazer and other shareholders about its long-term future.

Comments