Manchester United takeover latest as financial results are announced – Protest ongoing at Old Trafford now as fans are not happy with the final result
Manchester United supporters protested outside Old Trafford today as the takeover process continues to rumble onwards.
The Glazer family have yet to announce their preferred bidder to takeover the club with Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe in contention. United fans’ protest took place on the day in which the new kit was unveiled to the public and the club’s financial results were revealed.
United supporters have been awaiting news on the takeover since November when the Glazers initially announced they were seeking further investment in the Reds. But as we move towards July there has still been no true progress.
MEN Sport has rounded up the latest takeover headlines from Tuesday, June 27.
United’s transfer plans unaffected after financial results revealed
Manchester United’s summer transfer plans are unaffected by their financial results after they projected record revenues of up to £640million.
Sources insist United have enough cash for investment in the squad and the limiting factor are the Financial Fair Play rules. United have a budget of just over £100million, which will be supplemented by any player sales.
In their financial results for the third quarter, there was no mention of the strategic review which could result in a takeover of the club or United’s debt. It is understood the long-term debt remains unchanged at $650million (£510.5m).
United posted an 11.3% increase in overall revenue, as well as record matchday attendance after the club sold 2.4 million tickets last season – the most since the 2016-17 campaign. United also published record matchday hospitality revenues.
United supporters’ group release statement after protest
Manchester United supporters’ group The 1958 has reaffirmed its Glazers stance after Tuesday’s protest at Old Trafford.
Fans of the Reds gathered outside the entrance to the Megastore at Old Trafford to urge the American owners to sell United. In November, the Glazers announced they were seeking further investment in the club which could include a full sale.
Since then, progress has been slow with Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe emerging as the two leading candidates to buy the Reds. The 1958’s protest coincided with the launch of United’s new home kit for the 2023/24 season and the theme among those protesting was to stop funding ‘the Glazers’ greed’.
The store was temporarily shut at the beginning of the protest but later reopened. Taking to Twitter on Tuesday evening, The 1958 gave their reaction to the protest.
