Gary Neville claims the Glazers ‘have run out of money’ and are ‘desperate’ for investment, with Manchester United taken off the market… as he accuses the owners of having a ‘toxic impact’ at Old Trafford
- Mail Sport exclusively revealed the Glazers will take United off the market
- The Glazers indicated the club was up for sale in November last year
- Only two serious bids have emerged in Sheikh Jassim and Sir Jim Ratcliffe
Gary Neville believes the Glazer family has ‘run out of money’ and that their financial situation is ‘desperate’ as he urged Manchester United’s controversial owners to resolve the impasse over the club’s future.
The Glazers made it known last November that they were open to offers for either 100 per cent of the club, or a partial sale that left them with a sizeable stake.
But almost a year on since they fired the starting gun on a potential takeover, the Glazers are now on the verge of taking United off the market, as Mail Sport exclusively reported on Sunday.
According to a source with long-standing close ties to the American family, the Glazers will halt the takeover process after failing to receive any bid in the £10billion region.
The move is certain to provoke fury among United fans, who have never felt much warmth towards the club’s owners in their 18-year reign and blame them for a lack of recent success and investment in infrastructure.
Gary Neville has hit out at the Glazers’ ownership of Manchester United, claiming the American family has ‘run out of money’
The former United captain believes the Glazers are desperate for investments
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But Neville, who has long been critical of the Glazers, claimed United’s owners remained in dire need of investment in the club.
‘They have to do something. They’ve run out of money and the financial situation is desperate,’ the former United captain wrote on social media on Sunday.
‘They need investment in. They’re also having a toxic impact on the club from the inside out.
‘The negligence continues for now but I don’t think it can go on without some action on raising funds.
‘Also who would come in as a minority alongside them with the damage it would do to their reputation.’
United’s most recent set of financial figures showed the club’s gross debt stood at a staggering £725m in the quarter ending in June.
The figure is the highest it has been at the same stage of the financial year since 2010 and comprises the Glazers’ £521.5m leveraged buyout and borrowings of £203.7m
Since the Glazers first floated the prospect selling United almost 12 months ago, only two serious bidders emerged in Sheik Jassim of Qatar and Sir Jim Ratcliffe.
While Sheik Jassim has made clear he wants to purchase the whole club, Sir Jim Ratcliffe’s offer would leave the Glazers with a minority interest.
Sources close to those parties have been left frustrated as to the Glazers’ stance, making multiple rounds of offers and being given no indication of where they stood.
Sir Jim Ratcliffe’s offer would see the Glazers retain a minority stake in United
Sheikh Jassim was the other serious bidder to emerge, though his camp at one point bypassed US merchant bankers Raine, who have been in charge of the sale process
A sit-in protest by United fans was held at Old Trafford last week and urged the family to sell up
As revealed by Mail Sport on Sunday, it is understood the Glazers will try to sell the club again in 2025, when they hope financial and ‘environmental’ factors may attract more bidders.
The Glazers are reportedly banking that higher TV revenues and the 2026 World Cup in the USA will make United more appealing to American bidders and could land them a return of between £7bn to £10bn.
Last week, United fans again protested against the Glazers ownership.
A few thousand supporters remained in their seats afterwards for a sit-in protest against the American family after United came from behind to beat Nottingham Forest 3-2 at Old Trafford.
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