‘Not a grain of truth’: Sir Alex ‘insulted’ by suggestion he will profit from Glazers’ floatation of Manchester United

By Mancunian Matters sport staff

Sir Alex Ferguson claims he is ‘insulted’ by accusations he will benefit financially from the Glazers’ floatation bid.

It has been suggested that Ferguson may profit from the initial public offering (IPO) as part of the club’s floatation on the New York Stock Exchange.

Two days ago it emerged that the Glazers will only use half of the money raised to reduce club debts.

Sir Alex said: “There is not a single grain of truth in this allegation.”

Britain’s most successful manager ever said that he was addressing the issue head-on to ensure there was no rift between him and the fans.

“My decisions and beliefs are not based around what is best for my personal financial gain,” he said.

“That is an accusation that insults me. If that was the case I would have left Old Trafford a long time ago.

“I am speaking because I do not want a situation to develop whereby the media and other parties create a rift, however small, between myself and Manchester United.

“I’ve spent 25 years of my life pushing this club forward and not only could I not have done that without those fans, I do it for them.”

He also categorically ruled out that he would benefit financially from the controversial floatation.

“I do not receive any payments, directly or indirectly, from the IPO,” he said.

The 70-year-old also indicated that debts did not prevent him from spending money in the transfer window.

“Ultimately, I run the football side of this club and in order to do this, you need backing from above,” he said.

“The Glazer family have let me get on with my job, there is no interference or obstruction, only support.”

Two days ago it emerged that the Glazers will only use half of the money raised in the IPO to reduce the club debts. 

The Manchester United Supporters Trust (MUST) described it as a ‘slap in the face’ for fans.

A MUST spokesman said: “Clearly this has nothing to do with benefits for Manchester United and is all about giving the Glazers quick access to desperately needed cash at the expense of our football club. What is the sudden reason for this desperation for cash now? 

“Their bare-faced cheek is almost unbelievable.”

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