Sport Soccer

Thursday 24 August 2017

Speculators bank on Knights

SPECULATORS have begun to buy bonds in Manchester United in a gamble that the Red Knights will be able to launch an offer to buy the club from the Glazer family.

The news comes after the Knights -- millionaire football fans who want to force out the Glazers -- laid the groundwork for a long battle yesterday.

The Knights released a statement saying that their proposals are at "an early stage" and that the group needs to find at least £1bn before it can launch a bid.

However, speculation in the club's bonds indicates that the financial markets are giving some credence to the prospects of a bid. Jonathan Moore, an analyst for Evolution Securities, said: "I've had conversations with a number of investors in London who are trying to weigh up the possibilities of a deal. The key factor is whether the Glazers would be willing to sell."

Irish Independent

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