THE CITY IS SH*T

Last updated : 07 October 2002 By Editor

With the City investors turning their collective back on football Kenyon says he is disappointed that the one true success story is also suffering and then comes out with a load of corporate babble designed to butter up the fund managers.

"I get very disappointed because we do represent the global sports franchise in terms of name and brand. The industry is completely out of favour and that doesn't help us. We are in the leisure market, but we are in a sub-sector called football which just gets discounted as being unable to control costs."

After they purchased a large slice of the club there were rumours that the Coolmore gang of racehorse owner John Magnier and bookie JP Macmanus would ditch the City investors and make the club a private company again. Kenyon says he is unmoved by the rumours but equally says that big city investors are not that important to United’s success.

"Of our £165m total capital expenditure since flotation, there's only about £16m that's come from our shareholders. This is a cash-generative business, so we don't feel that we have to go to shareholders to raise money."

So would he consider taking the club private? "At this stage it's not something we've discussed or thought of."

As is reported elsewhere Kenyon is some way short of total support for Roy Keane as his readies himself for an appearance before the FA next Tuesday.

"I think it's too easy to say we are supportive. These things are never black and white."