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23/07/2009 08:15

Papers: Glazers back boss

Mercenary wasters are not welcome at United, say Glazers
Manchester United owners, the Glazer family, have broken their silence to defend Sir Alex Ferguson’s decision not to spend the £80million generated from the transfer of Cristiano Ronaldo. United’s owners rarely speak to fans or the media but last night the family revealed that Ferguson has kept his powder dry this summer simply because he believes too many modern players are motivated by money. Glazer spokesman Teshin Nayani said: "The manager has not been able to locate players that he believes fit the Manchester United mindset. Ones that are motivated to play for United. You don’t want to pay over the odds for players not willing to give their all." The Glazer family continue to carry a debt of around £700m following their purchase of the club five years ago. But Nayani claimed that this has nothing to do with Ferguson’s decision to keep hold of the Ronaldo money. He added: "Our operating profits are climbing and we continue to secure sponsorship deals. Our stadium is packed out and we have very good media revenues. On a normal business level, United is in a very strong position and, so far, unaffected by the economic downturn. The manager has a significant amount of money to invest if he wants to. We do have debt service and carry a significant amount of debt but our interest payments are around £43.3m a year while our operating profit was £80m topped by an extra £25m from transfer profits. We are talking about a net amount of about £60m. That cash can be reinvested in the squad. The point is there is money coming in."
Ian Ladyman, Daily Mail

In other news, the Daily Mail claim Manchester City have offered Chelsea skipper John Terry a whopping £1million a month in wages if he joins the Blues. The Guardian reckons Terry will remain at Stamford Bridge, however.

Round Up By Gemma Thompson


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