Monday, October 3, 2022

Latest Posts

Michael Knighton claims his Manchester United takeover bid is ‘moving forward as planned’

Michael Knighton has claimed that his aim in making a bid for Manchester United is “to move forward as planned”.

Knighton served on United’s board of directors after being involved in a failed takeover of the club in 1989.

It emerged last month that the 70-year-old was looking to buy United as many supporters of the club are very frustrated with the current owners, the Glazer family.

Knighton tweeted: “Thank you ALL for the wonderful messages of support. There’s a lot going on behind the scenes. Things are progressing as planned. I apologize for not being able to be on this platform anymore due to just being stuck in meetings. God’s blessings and all good wishes to you all. Your support is greatly appreciated.’

Knighton has yet to make a concrete offer for United but he has hinted things are moving in the right direction.

Sir James Ratcliffe, whose net worth is estimated at around £14billion by Forbes, has Knighton’s support.

Speaking to Man United The Religion last month, Knighton said: “We are a club in crisis and we all know the reason for that. We have an incompetent and frankly useless owner who knows little about this football game.

“Everyone knows that we need new owners for this football club and that is my goal and those are my goals. I’m making good progress, keep talking to people, I’ve got some good commitments and good funding.

‘We are now working on the offer document. Keep in mind that this is a hostile offer – it simply means the racket is not officially for sale. But my intention is to make a legitimate, strong and commercial offer to these owners to say: “You have no more road, it is time to go because your time is up”.

“And frankly, fans around the world are fed up with this regime. That exciting feeling of a new season that we all have and that excitement balloon that’s there all burst when we quickly saw the performance against Brighton. The club is in crisis and will remain in crisis as long as we have this current ownership.

Knighton suggested there are similarities between United’s current situation and what happened in 1989.

He told The Daily Mail: “There are strong comparisons between Manchester United in 1989 and Manchester United now, apart from the numbers getting a lot bigger.

“United was a failing company in 1989, they never made any money. When I juggled that ball they had just announced losses of £1.3m on sales of £7m. The fans hated the Edwards family [the owners] and they hadn’t won the league in 22 years.

Knighton also suggested the Glazers will have left United by next year.

He said: “United will cost a premium beyond its share because of its name and history. But the owners have damaged the brand and burdened it with debt. A reasonable price would be well below the reported £4.5bn they once rejected.

“The Glazers will know they are driving down the value of their own wealth. They won’t own Manchester United this time next year.

Latest Posts

Don't Miss