Old Trafford takeover plans put on back burner.
The Red Knights group of wealthy supporters mulling a takeover of Manchester United has shelved plans to make a bid for the club.
The group said media speculation of “inflated valuation aspirations” had hampered its plans.
It added that it had always maintained it would only pay a sensible price for Manchester United.
Last week, United reiterated it was not for sale and that the Glazer family owners would not listen to offers.
The Glazer family bought Manchester United for £800m in 2005.
The Red Knights group includes the former Football League chairman Keith Harris and Goldman Sachs chief economist Jim O’Neill. (BBC Sport)
So what now? Does the Red Knights inability to put in a competitive bid mean that Manchester United are stuck with the Glazers? A forthcoming Panorama programme may well point more media attention in the direction of the calamitous manner in which the Old Trafford club is being run into the ground by the American owners but unless someone comes in to save the club from their grubby hands it looks like being more of the same.
The fans have tried their best to put pressure on those in charge at the club and many would have hoped that the Red Knights would have resulted in action rather than hot air. Maybe now a more realistic bidder will come to light?
Do the fans feel in any way cheated by the Red Knights inability to make headway in this matter or is the job in hand just far tougher than originally anticipated?