Glazers 'will sell club eventually'
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Your support makes all the difference.A Manchester United director, Michael Edelson, yesterday said the Glazer family will sell the club eventually but that day is a "long way down the line".
United have faced mounting speculation about their future ownership since the Glazer family last month cleared around £220m of high-interest debt that was used to fund their leveraged takeover in 2005. They have not announced where the funds came from.
Earlier this week, the club rejected claims that they have received an approach from Qatar Holdings and the Glazers said in May that they "will not entertain any offers" for the club. However, Edelson, a non-executive director who has been on United's board since 1982, was reported by the Jewish Telegraph last week to have said at a private business gathering that the family will ultimately sell and he told the Associated Press yesterday that he stood by that statement: "It is inevitable that at some time they will sell... but that will be a long way down the line."
Edelson, who was appointed to the United board when Sir Matt Busby became club president, has no involvement in the running of United or of Red Football, its parent company. He is a director of the MUFC board, which is recognised by the Football Association. The Glazers have in the past rebuffed a £1.5bn offer from an unnamed Qatari group. Attempts by a group of investors, the Red Knights, to join forces with the Manchester United Supporters' Trust and table a bid to buy out the Glazers failed because of the Americans' unwillingness to sell. That prompted the owners to stress in May that they are committed to "the long-term ownership of the club".
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