Talk of the ‘red knights’ coming to rescue Manchester United has gathered pace this week with talk of the Keith Harris lead consortium preparing a £1bn bid to take the club off of the Glazer’s hands.
But who are the red knights and why exactly should we trust them?
Many United fans have taken heart in the fact that they are reportedly all United fans and care about the well being of the club more than the Glazers do so they must have the clubs best intentions at heart but in all the hope, has the reality of any possible deal been over looked?
Many assume that in taking over the club Man United will automatically be saved but the reality is that in the £1bn figure being quoted may not be enough. Analysts have placed the figure at around £1.6bn maybe even £2bn so these red knights will need to have plenty in the bank in order to secure the club in an all equity deal. Some have even speculated that they too, like the Glazers, could borrow money in order to complete the purchase thus negating the whole effect of them taking over.
There is another way the consortium could take over but that again could leave the club with debt which would again not be as pleasing to United fans who initially began the ‘Green and Gold’ campaign as a reaction to the spiralling debts that are crippling our club.
The red knights are yet to outline their plans for taking over the club, we just know that they have proposed a £1bn takeover although it would be a case of better the devil you know if they do take over without striking an all equity deal, I think we as fans should get a fuller picture before we get too excited.