FERGIE BACKS DOWN AND ROCK CASE IS OVER

Last updated : 07 March 2004 By Editor
…In fact it may just be beginning. What will Coolmore do
with their shares now? Will they, as predicted by the
broadsheets a few weeks back, sell up to Glazer? Will they
push for more control after destabilising the club at such
an important time? Time will tell.

The Times report on the end of the Rock of Gibraltar
shenanigans:

‘SIR ALEX FERGUSON has spoken for the first time about his
decision to back down in the row with Irish millionaire John
Magnier over the breeding rights to the racehorse Rock Of
Gibraltar.

‘The Manchester United manager told The Sunday Times that he
was “looking forward to getting back to normal life” after
agreeing an out-of-court settlement worth £2.5m with
Magnier.

‘“We have all decided to move on, it’s over now,” said
Ferguson. “This has been a tough time for the families of
all those involved and I am just looking forward to getting
back to normal life. While we were working this out, I spoke
personally with John Magnier, and that helped. And I am glad
that it has been an amicable settlement. I believe I have
dealt with everything that has happened. How do I do that?
You don’t read the papers, don’t socialise with players and
keep your own counsel.”

‘Ferguson is to confirm the peace deal in a statement due to
be issued tomorrow. A pre-recorded interview with Sky will
then be broadcast detailing the reasons for withdrawing his
claim to own half the breeding rights to the Rock, estimated
to be worth up to £100m.

‘As part of the settlement with Magnier, which followed a
personal phone call to his holiday home in Barbados 10 days
ago, Ferguson has agreed to make what some may see as a
public apology for the disruption the feud has caused.

‘Instead of pushing for ownership of half of the Rock’s stud
rights, he has accepted the up-front cash equivalent of four
nominations a year, two in the northern hemisphere and two
in the south, over the next 20 years. Ferguson said: “Both
parties had to compromise to get it settled, and I am
satisfied.”’