20 May 2010Manchester United takeover bid 'in jeopardy'

Football Clubs News | Football Finance News

The Red Knights' bid for Manchester United is running out of steam, according to reports.

Despite increasing supporter opposition to the Glazer family, the Guardian claims a source close to the bid has admitted the situation is "looking a bit grim" as an anticipated season ticket boycott appears to have failed to materialise.

A spokesman for the Manchester United Supporters' Trust claimed the Americans have spent £437 million on interest repayments since 2005, adding: "Every single penny we've spent on our tickets over their five-year ownership has been wasted."

Earlier in the week, chief executive David Gill dismissed talk of a boycott and claimed season ticket sales remain on track for next term. However, manager Sir Alex Ferguson was forced to admit that he may be able to bring in just one more new player during this close season.

It has also emerged that the interest rate on the club's £220 million loan will increase to 16.25 per cent, potentially adding repayments of an extra £75 million on to their existing £720 million debt.

Written by Terry Mitchell

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