SU'S MESSAGE TO SPONSORS

Last updated : 10 February 2005 By editor

Shareholders United's Sean Bones:

“The large sponsors of Manchester United have a duty to contact the board and look after their interests. If Malcolm Glazer were to acquire the shares in the club, the whole fan-base is against him. The sponsors attach themselves to the company because of the finance that comes from supporters, so what we’re saying is that the sponsors should play a more active role in convincing the board to turn down the Malcolm Glazer bid.


“The reason for this protest is to send a message to the board and urge them not to give Malcolm Glazer access to the books. Manchester United fans love the club and this protest is a reflection of their love for the club. Old Trafford is our home and we are not going to give it up. We feel Malcolm Glazer has hired some bankers who would give David Copperfield a run for his money. The bid was turned down previously because there was £500m worth of debt, now there’s £300m of debt, where has the other £200m gone?


“It’s gone in preferred shares. Preferred shares is debt in everything but name. We feel it’s important that supporters realise this and that when the club is in debt the banks can call in the money and we could have a Leeds situation here. When the board sit down and discuss it, they have no option but to throw out this bid on exactly the same terms as they kicked out the second bid.”