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Last Updated: Thursday, 29 January, 2004, 12:12 GMT
Man Utd pledge quick review
Sir Alex Ferguson
Manchester United have said they will conclude the internal review into the Old Trafford outfit's recent transfers as soon as possible.

The club announced on Monday that finance director Nick Humby would lead an in-house investigation.

It comes after concerns from major shareholders John Magnier and JP McManus about recent transfer dealings.

"We will do it appropriately and as quickly as possible," chief executive David Gill told BBC Radio Five Live.

"There has been a lot of media speculation around the club recently, but it is important to note that we will work closely with our key shareholders on addressing some of the issues."

Gill is hoping a speedy conclusion to the review may help appease the duo.

The club released a statement to the Stock Exchange on Monday that said: "The board of Manchester United will conduct a thorough internal review of the recent transfer dealings."

But the club also insisted their transfer policies were "the most rigorous in football".

Reacting to suggestions in the press of any transfer wrongdoings, the statement added that United had "received no documentary evidence from any party to support these allegations".

United said they would also disclose more detailed information on all future signings - which happened over the recent purchase of Louis Saha.

And the club will ask the Premier League to issue new guidelines for dealing with agents.

A report in the Financial Times last week said Magnier and McManus "will press for the appointment of an independent auditor to scrutinise player transfer deals and payments made to agents over the last five years.

"The pair will make their move if Sir Alex Ferguson is awarded a new employment contract for more than a one-year rolling term, and if the Manchester United board fails to investigate recent allegations regarding payments to player agents."

Ferguson, who is involved in legal action with Magnier over stud rights to the racehorse Rock of Gibraltar, signed a one-year rolling deal on Wednesday.

Magnier has slowly built up a stake of over 25% in the plc, prompting speculation of a possible takeover bid.

Under Takeover Panel regulations, an investor who takes up a 30% equity stake in a British company is required to make an offer to all other shareholders.




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