Below is the statement we released to media this morning in response to the reports of Qatar pulling out and INEOS proceeding with a minority investment.
MUST statement following news of Qatar withdrawal from Manchester United bidding processIt would be wildly optimistic to think the Glazers are acting in the interests of supporters or are making ownership decisions which don’t centre on their own priorities.However, what supporters should expect at the very least now is some clarity and an end to this process. Furthermore the outcome must include new investment into the club. It cannot be solely about the interests of shareholders, whether existing or new. We call upon all parties to put Manchester United interests before their own interests.If the reports are true regarding INEOS obtaining a 25% stake in our club there are a number of questions around the transaction which need clarity before supporters can make any judgement on its merits. Of course we don’t expect answers to market sensitive questions until a transaction has concluded and been announced to the New York Stock Exchange but these are amongst the questions that need to be answered:
- Where are the shares coming from, a sale by the Glazers or the issue of new shares?
- If they include A shares will they be new issue shares with funds going into the club?
- If they include B shares from the Glazer family will they retain the super-voting rights of the B class?
- Which (all/ some) Glazer family members will remain shareholders after this transaction?
- How is the share structure affected; do the Glazer family still have full control?
- Will Manchester United remain listed on the New York Stock Exchange?
- Is there a clear path to a change of majority ownership locked in beyond an initial transaction; ie are the Glazers going even if it isn’t immediate?
- What investment for the club is earmarked beyond money changing hands between shareholders?
- What changes to the club will there be as a result of a new minority shareholders; are rumours of a change of senior management and sporting director correct?
- What ambition is there for investment in infrastructure, eg the stadium, as a result of this transaction?
- What assurances can be given to match going supporters on issues such as ticket pricing?
We refer both existing owners and potential new investors to the OPEN LETTER TO POTENTIAL BIDDERS FOR MANCHESTER UNITED which we published at the start of this process and has the support of hundreds of Manchester United fan groups around the world.While we wait for answers to these questions everyone needs to put our football club first at this time and as fans we need to be unified* both in the backing of the team and on demands for the best ownership and investment for the club.MUST – the Manchester United Supporters Trust www.imust.org.uk
Note:* This morning a call for fan unity was issued, not a MUST statement, but MUST were one of the Manchester United fans’ representative bodies and independent supporters groups who jointly made the call for unity in the best interests of the club . This is the joint statement below:Statement from Manchester United fans’ representative bodies and independent supporters
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