The Independent reports:
‘Malcolm Glazer will "endanger the very existence" of Manchester United if he succeeds in his efforts to buy the club. That was the claim made by Greg Dyke, a former member of the Old Trafford board.
‘"Manchester United has not borrowed piles of money. It has built a stadium and a team out of its annual cashflows, not hocked itself to the bank like almost every other club has done," said the former BBC director general.
‘"Glazer will endanger the very existence of the club if it has a few fallow years. The profits will disappear overnight, for example, if the club does not qualify for the Champions' League."
‘Supporters groups opposed to the takeover have expressed fears that Glazer's plans would result in higher ticket prices and possibly even lead to the sale of the club's Old Trafford stadium. Dyke urged David Gill, the club's chief executive, and his fellow directors to do all they can to resist any further bids from the American.
‘"I agree with the current board and most of the fans when they express real concerns about Malcolm Glazer's potential bid for the company," said Dyke. "The only way he can afford it is by taking on a massive amount of debt. Fans and the board have asked if it is a business that can carry huge debts. My answer is no. The risk is too great.
‘"I cannot believe that the law says the board should sell the business if Glazer bids a high enough price. If that's what the law says, it's an ass. It means Manchester United could become the next Leeds United. It's not in the best interests of football, Manchester or the club.
‘"Perhaps what we are learning from this experience is that football clubs are not suited to being public companies in the first place."’
Amen to that