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Aug 2, 2012

Ferguson denies IPO payments

Manchester United manager Sir Alex Ferguson has issued a statement denying that he would receive any payment following the upcoming sale of shares in the club.

• Man United blog: Flotation


• Jolly: Man Utd IPO Q&A
• Shares 'overvalued' - Expert

There had been some suggestions that Ferguson, who has been supportive of the Glazer ownership at Old Trafford, would financially benefit from the sale of shares, as part of a potential payment to "senior employees".

The Scottish manager, though, has moved quickly to deny the claims in a statement released on Thursday afternoon, adding that the suggestion "insults" him after 25 years at the club.

The statement read: "Being aware of the media coverage that is currently ongoing I felt, on this occasion, that I should make my position clear to the Manchester United fans.

"In regards to suggestions that I have praised the Glazer Family because I stand to financially benefit from the proposed IPO, there is not a single grain of truth in this allegation. I do not receive any payments, directly or indirectly, from the IPO.

"Ultimately, I run the football side of this club and in order to do this, you need backing from above.

"The Glazer family have let me get on with my job, there is no interference or obstruction, only support.

"My decisions and beliefs are not based around what is best for my personal financial gain. That is an accusation that insults me. If that was the case, I would have left Old Trafford a long time ago.

"I am speaking out because I do not want a situation to develop whereby the media and other parties create a rift, however small, between myself and any Manchester United fan. I've spent 25 years of my life pushing this club forward and not only could I not have done it without those fans, I do it for them."

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