The veteran tactician claims that he will not be receiving any monetary benefits from the club IPO and reiterated that the owners had always assured him of their backing.
Manchester United have agreed to sell almost 10% of their shares in the New York Stock Exchange. The Glazers, who took over in 2005, have saddled Old Trafford with debts and have become hugely unpopular due to their frugality in the transfer market.
The intended IPO is apparently not going to repay the almost £500 million debt and instead it is going to be used to gain some extra cash for the owners.
While on the footballing sides of things United have been successful in the last couple of years, there business model has been far from perfect, selling top stars such as http://www.senore.com/Football-soccer/Cristiano-Ronaldo-c9629 and failing to re-invest the fees in new talents.
Sir http://www.senore.com/Football-soccer/Alex-c4752 Ferguson is a long standing ally and supporter of the Glazers and according to reports was going to receive substantial windfall gains when the stock went public.
However, the Scot has fiercely defended himself and claimed that there was no truth in this matter, which was only something that the media were spreading.
“Being aware of the media coverage that is currently ongoing I felt, on this occasion, that I should make my position clear to the Manchester United fans,” said Ferguson in a statement, published on Sky Sports. In regards to suggestions that I have praised
the Glazer family because I stand to financially benefit from the proposed IPO, there is not a single grain of truth in this allegation,” he said.
“I do not receive any payments, directly or indirectly, from the IPO. Ultimately, I run the football side of this club and in order to do this, you need backing from above. The Glazer family have let me get on with my http://www.senore.com/Football-soccer/Job-c18684, there is no interference or obstruction,
only support.”
With the Premier League season almost ready to start in a couple of weeks, United will be raring to go and will look to win back the crown from arch-rivals Manchester City, who ended their long drought for League success after pipping the Reds in May.
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