Football

Michael Knighton rules out Manchester United takeover bid and throws support behind another prospective owner

Michael Knighton has backed Sir Jim Ratcliffe to become the next Manchester United owner. Talk of the Glazer family selling up after almost two decades continues to dominate the headlines at Old Trafford.

The former United director announced he was drawing up a bid for the club in August this year, before insisting the bid was ‘moving forward’ just a month later. But following the news that the club’s current ownership announced they will consider “new investment, a sale, or other” potential transactions earlier this week, Knighton has now pulled out of the running.

Reports have suggested Ratcliffe – a multi-billionaire listed as one of the UK’s richest men – will bid to buythe Red Devils and Knighton has now backed the OGC Nice owner to take over at Old Trafford as well. Former board member Knighton – who had a £20million bid to buy United accepted in 1989 but failed to complete the deal – believes super-rich Ratcliffe’s level of wealth makes him the perfect candidate to take the club on going forward.

Knighton told BBC Manchester: “I’ve been calling on the current owners to sell their shareholding. I’ve been unhappy with the business model they set up in 2005, with this highly-geared, leveraged buyout, using the club’s assets to buy the club and lumbering it with this enormous debt.

“So I’m delighted that they have finally finalised their time is coming to an end. I’m sure all the supporters will be (too). For three years, I never took one halfpenny out of Manchester United, not even in expenses. I hope the new owners that come in will also have that philosophy.

The post Michael Knighton rules out Manchester United takeover bid and throws support behind another prospective owner appeared first on zululegit.

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