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Ferguson ahead of the field in Old Trafford power struggle

The financial backing of two racing tycoons has benefited United's manager

Tim Rich
Friday 20 July 2001 00:00 BST
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Enoch Powell's observation that all political careers ultimately end in failure might equally apply to football managers.

You think of Sir Alf Ramsey seeing out his days attempting to revive a hopelessly mediocre Birmingham City. Or Brian Clough, the great dictator, leaving the City Ground in tears with the Nottingham Forest side he made into champions of Europe relegated. Or Bill Shankly, having realised that his resignation from Anfield was a dreadful mistake, wandering around watching Everton train.

Two months ago this was a fate that Sir Alex Ferguson seemed ready to embrace at Manchester United. After he had expressed his contempt for the board at Old Trafford which had refused him a role as the club's roving ambassador after his retirement as manager, his family travelled to London for United's final match of the season in the belief that Ferguson would leave the club there and then. It looked as though the grey suits had won.

They had not and Ferguson stayed, choosing to ignore the siren calls from Barcelona, and he now stands in a more powerful position than at any time since his arrival at Old Trafford in November 1986.

When he ends his managerial career in May he will begin a five-year contract as consultant to United, which was precisely the role he sought and now he enjoys the financial backing of two friends, J P McManus and John Magnier, who now own more of the club than anyone bar Rupert Murdoch.

The pair, who grew rich in Ireland through gambling and horse racing, first met Ferguson when organising a race day for him at Haydock Park two Julys ago and are believed to be worth £400m – almost the value of Manchester United itself. Significantly, while Ferguson's horses were being given a run-out, his chairman, Martin Edwards, was refusing to sell McManus £28m of his shares. Now, Edwards finds himself third in the financial pecking order at Old Trafford.

It was not perhaps coincidence that Ferguson, who privately opposed BSkyB's blocked takeover in 1998, which was supported by Edwards, thought McManus and Magnier would make "good ambassadors'' for United. They will make good allies too.

Although Edwards resisted demands to sack Ferguson during his darkest hours in 1989, the two have enjoyed a frosty relationship which initially stemmed from a refusal to pay the Scot what he thought he was worth. It deepened with Ferguson's frustration at United's perceived inability to compete in the inflated European transfer market.

Things began to improve when last summer Edwards stepped down as chief executive in favour of Peter Kenyon, who in his first speech recommended that Ferguson should stay on at Old Trafford beyond his retirement.

Although McManus and Magnier regard their dealings "purely as an investment'' in a club which has lost half its paper value since March 2000, they form a powerful counterweight to Edwards – who in recent years has diluted his shareholding to 6.6 per cent – and the City institutions which Ferguson has long mistrusted.

Both men are fans and are likely to ally themselves with Shareholders United, a group of small investors formed to oppose the BSkyB take over. The spokesman, Oliver Houston, said: "We would be surprised if this was the end of their involvement and we look forward to talking with them as soon as possible.''

On the field, too, Ferguson's hand has been strengthened. With the exception of David Beckham, every one of his major players has accepted a new contract. Whoever takes his place when he retires from the dug-out – and the smart money is on Martin O'Neill, who would enjoy Ferguson's support if he left Parkhead for Old Trafford – will discover that the life of his team extends far into the future.

In the meantime some £47m was released to fund the transfers of Ruud van Nistelrooy and Juan Sebastian Veron. The date of the Argentinian's signing was 12 July, the day McManus and Magnier bought eight million shares in United. Twenty-four hours later Ferguson was given his five-year contract to represent the club in all non-footballing matters and McManus and Magnier bought 1.8 million more, under the cover of their front company, Cubic Expression.

On that significant afternoon of 12 July, when the pair made their move, Ferguson was publicly praising a number of United officials, Kenyon chiefly among them, for bringing Veron to Old Trafford. The chairman was not mentioned at all.

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