Manchester United co-owner Avram Glazer has given a definitive answer as to whether he would sell his share in the Old Trafford club.
The Premier League club published their results this week, showing a £14.5m cost for disposing of former manager Erik ten Hag, sporting director Dan Ashworth and others.
The club therefore made a loss of over £27m for the second quarter of their financial year, to 31 December.
It comes within a year of Sir Jim Ratcliffe’s investment into Manchester United, in return for 28.94 per cent of the club. The Glazers are majority owners of the team.
But when asked overnight whether Manchester United were for sale, Glazer simply stated “no”.
Ratcliffe has caused a stir since his arrival at Old Trafford, with his firm Ineos making numerous cuts to their sporting portfolio in recent months.
Manchester United cost cutting
The chemicals giant announced a split with Sir Ben Ainslie’s America’s Cup team earlier this year while star cyclist Tom Pidcock moved on from the Ineos-owned grand tour team.
Furthermore New Zealand Rugby are in litigation with Ineos over a decision to cut short a sponsorship deal, and there are reports that the brand may cut its deal with Tottenham Hotspur short.
The club have also made cuts to staff at Old Trafford, and made changes to the club’s Christmas bonus scheme.
On the club results the Manchester United Supporters’ Trust said: “Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement,” the supporters’ group statement read.
“It’s time to freeze ticket prices and allow everyone – players, management, owners and fans – to get behind United and restore this club to where it belongs.”
Manchester United are next in action away to Everton in the Premier League before hosting Ipswich next week at Old Trafford.