'They're in it for the long-term': Ed Woodward insists the Glazer family will not sell Manchester United despite suggestions rulers of Saudi Arabia will make a takeover bid for the club
* The Americans have been unpopular among fans since acquiring United in 2005
* Reports suggest that Saudi’s Crown Prince Mohammed Bin Salman is interested
* But Ed Woodward claims the Glazer family want to remain in charge of club
Ed Woodword insists Manchester United’s owners the Glazer family have no plans to sell the club and ‘are in it for the long-term’ despite speculation over a takeover bid from the rulers of Saudi Arabia.
The Americans have been unpopular among many fans since acquiring United in 2005, and are coming under renewed attack following the club’s poor start to the season.
It has coincided with reports that Saudi’s Crown Prince Mohammed Bin Salman is prepared to pay in excess of £3billion to buy United, but Woodward claims the Glazers want to remain at the helm and have not held any discussions about selling up.
Ed Woodward has insisted that the Glazer family (Avram Glazer, right) do not want to sell
‘Based on what I see, they're in it for the long-term,’ said United’s executive vice-chairman
‘With regards to offers or asking prices, my understanding is that there have been no discussions for a price for the club or anything like that. Every conversation we have is based on the long-term.’
One of the main criticisms of the Glazers is the debt saddled on United by their leveraged £780m buyout which currently stands at £511m.
But in an interview with fanzine United We Stand, Woodward played down that figure, saying: ‘The debt is a long-term, structured and similar to some other football clubs.
‘It's a fixed amount for a fixed period of time which results in it being fairly cheap to service.
‘It's just under two per cent our annual revenue each year, so it doesn't really have any impact on us.’
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