Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt, Uganda sign cooperation deals on water, agriculture, investment    Egypt–Jordan trade hits $1 billion in 2024: ministry report    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egyptian pound closes high vs. USD on Tuesday – CBE    Edita Food Industries Sees 72% Profit Jump in Q2 2025, Revenue Hits EGP 5 Billion    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    PM Madbouly reviews progress of 1.5 Million Feddan Project    Australia to recognise Palestinian state in September, New Zealand to decide    Trump orders homeless out of DC, deploys federal agents and prepares National Guard    Egypt, Côte d'Ivoire hold political talks, sign visa deal in Cairo    Egypt's TMG H1 profit jumps as sales hit record EGP 211bn    Egypt, Germany FMs discuss Gaza escalation, humanitarian crisis    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt, Huawei discuss expanding AI, digital healthcare collaboration    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Glazer family committed to Manchester United, says exec
American owners of iconic English club have no plans to sell side, says executive, allaying fans' fears that United is being outmuscled by European sides
Reuters Published in Ahram Online on 23 - 10 - 2012

The American Glazer family are long-term investors in Manchester United and have no plans to sell the English Premier League soccer club following flotation, Executive Vice Chairman Ed Woodward said on Tuesday.
United floated on the stock market in New York in August under a dual-share structure that left the Glazers firmly in control of the 19-times English champions.
A vocal group of fans has critisied the Glazers, accusing them of loading the club with excess debt when they bought it for 790 million pounds ($1.27 billion)in a highly leveraged deal in 2005.
"It's a very popular business that people have interest in. The answer is (it's) not for sale," Woodward said, when asked about the future ownership of the club.
"The opportunities that we see going forward and the excitement that they have in this is undiminished. I don't see them (the Glazers) selling completely for many, many years."
Woodward said the club now had gross debt of around 360 million pounds. It was comfortable with interest payments of around 31 million pounds this year on its own forecast for underlying earnings (EBITDA) of at least 107 million pounds.
He said the club was not being outmuscled by rival European teams in the transfer market for top players.
"We can compete for whichever players we want to compete for," said Woodward.
United signed Dutch international striker Robin Van Persie from Arsenal this summer for an estimated 22 million pounds and are second in the 20-team Premier League.
(For more sports news and updates, follow Ahram Online Sports on Twitter at @AO Sports and on Facebook at AhramOnlineSports)

Clic here to read the story from its source.