Glazers Insist That Fergie Has Money To Spend

Last updated : 23 July 2009 By editor

...seeing as Season Ticket prices have nearly doubled since the Gimps took over, our net transfer spend is estimated to be less than £1m and we were promised £25m each summer. This means he should have somewhere in the region of £125m to spend.

Glazer spokesman Tehsin Nayani, "The manager has a significant amount of money to invest if he wants to. The delay has been because the manager has not been able to locate the players he believes fit the Manchester United mindset - players who are motivated to play for United. You don't want mercenaries and you don't want to pay over the odds for players not willing to give their all for the club.

"Manchester United are so far unaffected by the downturn. It would be foolish to say there would be no impact because you never know what is going to happen down the line but our season-ticket sales stand up well, in comparison to previous years.

"I have been saying that one should expect a downturn in our corporate sales but every club is faced with that. We do have a debt to service and that debt is significant but our interest payments are £43.3m a year while our operating profit was £80m topped off by an extra £25m from transfer sales. We are talking about a net amount of £60m and that is cash that can be reinvested in the squad - or if you prefer doing up the toilets or new carpets.

"The point is, there is money coming into Manchester United and one thing is certain that because of globalisation and the growing middle classes in India and the Far East, the appeal of football is set to grow and we are part of that story."