Alex Ferguson ‘insulted’ by claims of windfall

By Simon Stone
Published on 03/08/2012 00:00

MANCHESTER United manager Sir Alex Ferguson has said he is “insulted” by claims his recent backing of the Glazer family is motivated by personal gain.

It has been suggested that Ferguson stands to profit from the controversial initial public offering (IPO), which the Glazer family are now saying will only partly go against United’s massive debts.

Ferguson yesterday hit back, saying: “There is not a single grain of truth in this allegation. This is an accusation that insults me.”

The Scot said he felt the need to address the issue to prevent a schism developing between him and the United fans.

A clause within the prospectus for the IPO, which the Glazers signalled an official intention to launch in New York on Monday evening, suggests senior management figures will receive shares. Almost immediately, some of those opposed to the Glazer family’s ownership of United wondered whether Ferguson was among them.

“Being aware of the media coverage that is currently ongoing I felt, on this occasion, that I should make my position clear to the Manchester United fans,” said Ferguson in a statement.

“In regards to suggestions that I have praised the Glazer family because I stand to financially benefit from the proposed IPO, there is not a single grain of truth in this allegation. I do not receive any payments, directly or indirectly, from the IPO.”

He added: “My decisions and beliefs are not based around what is best for my personal financial gain. That is an accusation that insults me. If that was the case I would have left Old Trafford a long time ago.

“I am speaking because I do not want a situation to develop whereby the media and other parties create a rift, however small, between myself and Manchester United.

“I’ve spent 25 years of my life pushing this club forward and not only could I not have done that without those fans, I do it for them.”