11.03.2010
Glazers will resist Red Knights takeover bid - Gill
Manchester United chief executive David Gill insists the Glazer family will not be forced out of Old Trafford by fan discontent and a potential takeover bid from the Red Knights.
United fans have shown their opposition to the Glazers' reign, and the massive debts the American family have loaded onto the club, by wearing green and gold scarves at matches this season.
The campaign has led to a group of wealthy United supporters joining together with a view to mounting a bid to buy-out the Glazers and it emerged on Thursday that the consortium has appointed leading global investment bank Nomura as advisers.
However, sources close to the Glazer family are adamant the Premier League club is not for sale despite debts in excess of 700 million pounds (770 million euros) and Gill backed up that message as he announced a new five-year sponsorship deal with telecommunications firm Telekom Malaysia.
"There are protests. Everyone has the right to protest and there was certainly a lot of green and gold there at the AC Milan game on Wednesday, you cannot deny that," Gill said.
"But this partnership (with Telekom Malaysia) demonstrates the strength of the club. It is a long-term partnership for five years.
"We will be around for the length of this five-year deal and many more in addition to that.
"We have a sound business model and Telekom Malaysia is partnering one of the best teams in world football. That will always be the case."
The sponsorship agreement with Telekom Malaysia is part of a new commercial strategy implemented by the Glazer family.
Instead of taking a global approach, United have adopted a territorial stance, doing exclusive deals in specific areas to maximise income and make the most of an estimated 333 million supporters worldwide.
Gill added: "The owners thought we were doing very well on the commercial front but that there were other opportunities out there.
"This is the insight they have brought in. It doesn't get much media coverage but the very fact they have come in and are able to do these deals benefits us. We can reinvest that money back into the team."
Source: © 2010 AFP - Andrew Yates
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