
Red Knights back ticket boycott
The Red Knights are going all out in their bid to win fan support for their bid to take over Manchester United.
Manchester United supporters who fail to renew their season tickets in protest at the Glazer family's ownership of the club will get their places back if the Red Knights are successful in their takeover quest.
A boycott of season tickets is one of the major aims of the Red Knights in order to hit the Glazers' business plan.
The group, which includes high-profile investment banker Jim O'Neill and football takeover expert Keith Harris - both lifelong United fans - are in the process of putting together a package in excess of £1billion in an attempt to persuade United's controversial American owners to sell.
Harris believes the mammoth debts the Glazers took on to complete their takeover in 2005, particularly the Payment in Kind (PIK) loans lodged against the family themselves that accumulate such massive interest, mean United's owners would be willing to engage in takeover discussions.
However, with rumours of interest from China and India, Harris is eager for the Red Knights option to be pursued. In order to give the Glazers a nudge, he wants supporters not to commit themselves to buying season tickets.
Harris is aware fans might be reluctant to take such a stance given they would lose their right to watch the team play. So he has confirmed direct action will be rewarded should the Red Knights eventually gain control.
"It's not about turning up late for matches," Harris told the Red Issue fanzine.
"It is if those people say they won't renew.
"People should understand that the purpose of any takeover is to give loyal supporters part-ownership of the club and give them a voice.
"If there were people thinking of giving up their season tickets on account of what they have heard about the Glazers' plans then, in the event our takeover was successful we are sure it could be worked out so that they regained their places."
Confirmation that leading investment bank Nomura are now advising the Red Knights make a takeover approach virtually certain.
Insiders say they can generate the funds required to complete a deal, although crucially, the extent of the debt needed to do it has not been mentioned.
The combined debts of the Glazers and United now top £700million and, after the issue of a bond prospectus that highlighted the possibility - however remote - of Old Trafford and the Carrington training ground being sold raised such acute fears amongst supporters, the hugely successful and very visual 'green and gold' campaign was triggered.
"They have to service the debt - and that costs £43million a year - with the PIK in addition. They also have to reinvest in the squad," said Harris.
"If they think all those things cannot be assured from revenue then they must be scratching their heads and thinking 'how are we going to handle this?'.
"It might not be this season but let's say the Glazers have to meet an interest bill and they haven't got the cashflow through the business. Then there is only one asset they can sell - and that is the players."
David Beckham gave the green and gold campaign a huge publicity coup by wearing a scarf as he made his way off the pitch on Wednesday, although Sir Alex Ferguson has denied any involvement with the Red Knights group.
Indeed, Ferguson has repeatedly backed the Glazer family's ownership.
However, Harris has assured the United boss he would remain should the Red Knights seize control.
"Sir Alex doesn't need to speak out. In fact, I don't think it is desirable," said Harris.
"But he should be absolutely secure in the knowledge that if there was a deal put together he would automatically be invited to be part of it."
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