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Red Knights appoint Nomura to advise on Man Utd March 11 2010 , 12:20:00

Wealthy supporters trying to put a bid together for English Premier League champions Manchester United have appointed Nomura as financial advisers, in a further sign of serious intent.  Red Knights, a collection of financial figures including former Football League chairperson Keith Harris and Goldman Sachs chief economist Jim O'Neill, has said takeover plans are at an early stage.

The Glazer family, which owns the club, has said the club is not for sale. "Nomura will work closely with the Red Knights, Manchester United Supporters Trust (MUST) and other potential investors to coordinate and formulate the proposal to be put to the Glazer family," Red Knights said in a statement. "The Nomura team will be led by Guy Dawson and Andrew McNaught, both of whom advised the board of Manchester United when the club was sold to the Glazer family in 2005. Nomura is beginning its role by contacting the many expressions of financial support the Red Knights have received to date."

Talk of a bid for Manchester United has grown in recent weeks and the story was splashed across the front and back pages of Britain's press today after former player David Beckham wore a green and gold scarf which has symbolised the protest.

The colours were worn when the team was known as Newton Heath in its early days, and increasing numbers of fans have been opting to wear green and gold on match days instead of the side's traditional red and white. The Glazer family, which also owns the Tampa Bay Buccaneers American football team, bought Manchester United in 2005 for about 790 million pounds ($1.2 billion) against a wave of protest from fans who feared they would load it up with too much debt.

Its debt has since swelled to about 716 million pounds. But analysts and bankers who follow the Glazer family have said they do not expect the family to sell. Manchester United, winners of the Premier League for the past three seasons, beat Beckham's AC Milan yesterday night to secure a 7-2 win over two legs to put them into the quarter-finals of the Champions League.-Reuters

 

 

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