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Harris in Utd takeover plans - sypher - 30-01-2010
Renowned football finance expert Keith Harris has offered a lifeline to Manchester United's mounting debt by confirming he is trying to broker a takeover of the club.
United fan Harris has been labelled as football's 'Mr Fixit' after being involved in several Premier League takeovers, such as welcoming Roman Abramovich to Chelsea and helping Eggert Magnusson take control of West Ham.
And with the Red Devils holding growing debts of more than £700million since the Glazer family took over in 2005, Harris said members of the Manchester United Supporters Trust went to him as a glimmer of hope to help turn around the club's financial fortunes.
"Yes, we have been approached," Harris said.
"We can lend our weight to doing something for the good of United and for the good of football - none of the takeovers that I have been involved in have involved any debt.
"They've been takeovers by people who've wanted to be involved for reasons other than money."
The Seymour Pierce investment bank chief executive declined to name any of the people who have approached him, identifying them only as 'The Red Knights'.
"A number of people have been to see me and I've had long chats with them," he said.
"I know there are one or two people in senior positions in the financial services that have access to the capital.
"We don't know if the Glazers can be made to listen, but there is serious intent on the part of people who have support in their hearts. The time feels right."
Earlier it was revealed that the club issued £500million worth of bonds in a re-financing effort. However Harris shares the anger displayed by fellow United supporters.
"(The Glazers) are playing with an icon of football, one of the most respected brands in the world, and it is in danger," he said.
"Seventy five pence of every pound (fans) are spending is now going to the Galzers either for themselves or to pay debts."
United have since issued a statement to deny there are problems.
A spokesman for the Glazer family insisted they have no interest in selling.
source: Sky Sports