Reds consortium gathers strength

Last updated : 02 February 2010 By Manchester Evening News

Keith Harris, the chief executive of investment bank Seymour Pierce, has been approached to gather together a consortium with the cash clout to tempt the Reds' American owners to sell.

Harris has put together numerous bids for Premier League clubs and further meetings are taking place this week with the group of interested and, as yet unnamed, individuals who are seeking democratic control of the club for United supporters.

"Until the individuals want to come forward and go public we cannot name names," said Duncan Drasdo of the Manchester United Supporters Trust (MUST). "Things are still developing. It is moving forward, but it does take time to get things together.

"There are 50 heavyweight players who will make up the bulk of the consortium. They are all United fans and all very wealthy. They are from the City of London or businessmen in the North West and Manchester. Until it is all solid and ready to go we cannot name them.

"MUST's role is to support the Red Knights and grow the Trust."

The prosperous investors would provide the bulk of the potential £1bn that is likely to be needed to tempt the Glazers to give up their Old Trafford business.

The Florida-based family have consistently insisted the club is not for sale and that they are in it for the long haul. The Red Knights hope they will change their minds.

The Independent Manchester United Supporters Association (IMUSA) said it would welcome a buyout if at least 25 per cent of non-transferable shares are set aside for a trust; a democratically elected Fans' Forum is established with powers to influence decisions "that directly impinge upon fans" and ticket prices are revised.


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Source: Manchester Evening News

Source: M.E.N.