Mike Edelson reveals Glazer family intend to sell the club


Sep 10, 2010
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Manchester United’s future has been thrown into doubt after one of the club’s top officials made it clear that current owners, the Glazer family, will sell up.

Mike Edelson, who is the non-executive director at Old Trafford, told The Sun that they will be looking to leave at some stage.

"It's no secret that, at some time, the family will sell," he said at a recent Q&A session at the Maccabi Sports Club in Prestwich, Manchester.

And with this revelation, it is now believed this has opened the door for the Qatar royal family, led by Sheikh Hamad bin Khalifa Al Thani, to seize their opportunity tio take control of United in a £1.5 billion takeover.

However, with Edelson’s comments it has given the first clear indication that the Glazers are ready to move on, having taken United into debt.

It is also believed that the Glazers will almost double their money if they sell, having bought the Old Trafford club five and half years ago, for £790m.

According to The Sun, sources have claimed that the Glazers are willing to sell so that they can pay back £252m of the £752m they have accumulated since being the owners at United.

"The belief is that they have already brought in extra finance from a third party in a bid to set the club up for a sale," one top city source was quoted as saying.

Meanwhile, a Middle East finance expert has also said that Qatar holdings - who deal with business concerning the royal family - are waiting to strike to gain control of the Premier League giants.

"They have made tentative moves before with little success but this time it looks like they could be going for it," the source said.

"Now they have landed the 2022 World Cup, the country wants to expand its influence in the game across the globe."


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Nice to hear, but its the Sun so im deeply sceptical, im gonna see if i can find a transcript fron the Q & A
It is only the Sun, But at least you actually see quotes rather then, Our Sources.....

Going to take it with a pinh of salt, until something happens.
Manchester United director says Glazers will not sell for a long time
• 'That will be a long way down the line,' says Edelson
• Owners have repeatedly insisted club is not for sale


The Manchester United director Michael Edelson believes the club's American owners will sell the club eventually but that it will be a "long way down the line".

The Premier League leaders have faced mounting speculation about their future ownership since the Glazer family last month cleared around £220m of high-interest debt used to fund their leveraged 2005 takeover. The owners have not announced where the funds came from, although they said no cash has been drawn from the club.

Reports in Britain and the Gulf over the last week suggested Qatar Holdings is preparing a bid for the club, but the 18-times English champions say they have not had an approach and the club is not for sale. The Glazers have in the past rebuffed a £1.5bn offer from an unnamed Qatari group and said in May they "will not entertain any offers" for the club.

But Edelson, who has been on United's board since 1982, said today: "It is inevitable that at some time they will sell ... but that will be a long way down the line."

Fan protests against the Glazers have mounted this year since the club's financial predicament was revealed in a bond prospectus sent to investors in January. The £504m bond means that even by repaying £220m of loans last month, the club is not in the debt-free state it was in before the Glazers' leveraged takeover.

In October, United posted a net loss of £83.6m for the year ending 30 June after costs associated with the huge debts wiped out record revenues of £286.4m. Forbes magazine has estimated that United is worth $1.8bn – making it the most valuable football club for the sixth straight year.

A group of financiers calling themselves the Red Knights joined forces with the Manchester United Supporters' Trust earlier this year in an attempt to put together a bid to buy out the Glazers. That prompted the owners to stress in May that they are committed to "the long-term ownership of the club".
"It's no secret that, at some time, the family will sell,"

That line alone told me that it wasn't going to be anytime soon.