Ed Woodward has confirmed that the Glazer family do not wish to sell Manchester United and the owners have received no offers for the club.
There was speculation that the Saudi Crown Prince, Mohammed Bin Salman, was reportedly willing to pay more than £3 billion to take over the struggling Premier League club, which has been in the hands of the Glazers since 2005.
Woodward - who was subjected to more criticism from fans at Old Trafford on Sunday when a plane trailing a banner that read “Ed - Still Failing #Woodwardout” - believes the Glazers remain committed to United in the long-term.
“Based on what I see, they’re in it for the long-term,” Woodward - who is in daily contact with co-chairmen Joel and Avram Glazer - told fanzine United We Stand (h/t The Guardian).
“With regards to offers or asking prices, my understanding is that there have been no discussions for a price for the club or anything like that. Every conversation we have is based on the long-term.”
United’s net debt stood at £203.6 million for the year ended June 30, 2019, but Woodward claimed it had little impact on the club’s spending power.
“The debt is long-term, structured and similar to some other football clubs,” he said.
“It’s a fixed amount for a fixed period of time which results in it being fairly cheap to service. It’s just under two percent of our annual revenue each year, so it doesn’t really have any impact on us.”