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Last Updated: Friday, 25 May 2007, 12:19 GMT 13:19 UK
Glazers deny Man Utd sale story
(left to right) Bryan Glazer, Avram Glazer and Joel Glazer
Malcolm Glazer put his son Joel (right) in charge of his investment
Malcolm Glazer has no intention of selling Manchester United, according to a spokesman for his family.

"There is not a grain of truth to this story - the family is committed to the long-term ownership of the club."

The Daily Mirror reported that the American billionaire was ready to sell United after profits fell short of his expectations.

Mr Glazer spent 790m buying the club in 2005, and has put his son Joel in charge of the investment.

Malcolm Glazer is currently recovering from his second stroke, but his spokesman says that his health has no bearing on the ownership of Manchester United.

The debt taken on to finance the purchase of Manchester United has already been refinanced once to reduce the interest payments and it is rumoured that the club is planning a second refinancing.

Manchester United reported profits for the 12 months to the end of June 2006 of 49.7m.

The interest payments on the debt taken out to buy the club are currently 62m a year.


SEE ALSO
Glazers aided title push - Gill
07 May 07 |  Man Utd
Manchester United's profits flat
26 Jan 07 |  Business
Man Utd deal cuts interest bill
18 Jul 06 |  Business
More Glazers join Man Utd board
18 Jun 06 |  Man Utd

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