United to provide Glazer 'limited due diligence'
Manchester United have confirmed they will provide Malcolm Glazer with “limited due diligence” in order to advance his takeover plans – but have stated they do not believe they would be able to back the US businessman's bid proposal.
Five days after revealing they had received “detailed proposals” from Glazer, the Red Devils’ board – led by chief executive David Gill and chairman Roy Gardner – have realised supporters’ worst fears by allowing the Tampa Bay Buccaneers owner to inspect club accounts in the interests of the majority of shareholders.
However, they have done so with massive reservations over the financing of the scheme, which they claim will “put pressure on the business of Manchester United” if Glazer’s plan did not prove successful.
In a lengthy statement, issued without Glazer’s consultation, the club also stated that if the proposals currently placed before them did eventually turn into a formal bid, the board would be “unlikely” to recommend the offer as being “in the best interests of Manchester United”.
