Speculators bank on Knights
Published 03/03/2010 | 05:00
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."