University Business School, told the Press Association:
"There is now an increased danger for the senior management
team at Manchester United that they could face a buy-out.
"It is highly conceivable that a consortium could now
attempt a takeover. It's a prime target. The senior
management team may be facing a situation now when they will
be warding off unwelcome predators who are looking at taking
over the business when in the past the predators had just
been looking to buy players."
Gerrard believes any takeover would come in the form of a
leveraged buy-out (LBO). United's revenues are so reliable
that financial institutions could lend a takeover consortium
enough money to buy the club on the basis of expected
surpluses in the future.
"It is a standard tactic for acquisitions in industry in
general and it would be no surprise if it was targeted in
this way.
"There looks to be considerable potential there. If a
consortium was looking at the balance sheet they would see a
debt-free business, financially the biggest football club in
the world and guaranteed revenue streams for the future.
They may think it could be doing even better."
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