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Aug, 4, 2010

Keith Harris: Red Knights' bid would be pointless

One of the leading figures behind the Red Knights' efforts to launch a takeover bid for Manchester United has said that a move would be pointless as the Glazers will not sell.

• Red Knights unlikely to make bid

Keith Harris, executive chairman of investment bank Seymour Pierce, is part of the consortium of wealthy investors keen on buying United, who earlier this year shelved their plans due to the valuation put on the club. However, he now believes that any move would be a waste of time as the current owners have no intention of selling.

"The message I thought came loud and clear from the current owners that they are not interested in selling it," he told Sky Sports News. "I've been around long enough in the trading business to know that for a trade to happen it requires a seller and a buyer who will meet.

"If the owner is not a seller and owns all of it and isn't under pressure to sell it then there isn't going to be a deal.

"I don't think there's any point (in a bid). If you had such a clear message that the current owners don't want to meet with a prospective buyer then I think you've got to say 'there's no purpose in tabling a bid'.

"Bids were tabled in the past and were declined. They obviously don't feel under pressure or under desire to do it today."

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