Fergie Can Spend

Bryan and Avram Glazer watch AIG sponsored Manchester United match, Manchester

After the £80 million sale of Cristiano Ronaldo plus the normal £30 million transfer money, many Man United fans believed that Sir Alex Ferguson would be able to spend that money.

So far Man United have signed Antonio Valencia, Michael Owen and Gabriel Obertan and haven't spend the amount of money that we have expected, for all of those players the amount of money spent is thought to be £22 million. Fergie has now said that there will be no more signings. This has lead to many fans believing that United's owners the Glazer's are keeping the money from Fergie.

This has lead to the Glazer's releasing a statement via their family spokesman Tehsin Nayani:

"We do have debt service and carry a significant amount of debt"
"But our interest payments are around £43.3million a year while our operating profit was £80million topped by an extra £25m from transfer profits.

"So we are talking about a net amount of about £60m. That's cash that can be reinvested in the squad, doing up the toilets or new carpets.

"The point is there is money coming into United. One thing that is certain, because of globalisation and the growing middle classes in India and the Far East, the appeal of football is set to grow. We are part of that story."

"The truth is a lot more prosaic than that,"
Nayani added.

"The delay is because the manager has not been able to locate the players that he believes fit into the Manchester United mindset, ones that are motivated to play for United.

"You don't want mercenaries ... to pay over the odds for players not willing to give their all for the club."

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