Gill thinks long term
Published 09/10/2010 | 10:22
Manchester United chief executive David Gill has said fans should not fear the club going down the same road as Liverpool despite losses of £83.6million.
Fans' group Manchester United Supporters' Trust (MUST) say the "clock is ticking" on the Glazer family's ownership of United and that a similar outcome to Liverpool could arise but that is denied by the club's senior executive.
Gill told said: "I can't speak for any other club but the United fans should not be concerned. We have a long-term financing structure in place, excellent revenues that are growing, we are controlling our costs - total wages are 46% of turnover - and we can afford the interest on our long-term finance."
He added: "In our opinion if something changed in the ownership, this club will survive and continue - it is covering the financing cost more than adequately.
"We still have cash to invest in players and to give good contracts to players and we are comfortable with the business model."
Gill also insisted there is no pressure to sell star players such as Wayne Rooney and that the club would still prefer to have "Cristiano Ronaldo on the pitch than £80million in the bank".
He added: "We are not a club that needs to sell. We have money in the bank so there is zero pressure on that, no pressure at all to sell any star player whether it is Wayne Rooney or X,Y or Z. I can categorically say that.
"There was no desire at all from anyone at the club to sell Cristiano - he wanted to go and as a result we managed to extract a world record fee.
"These philosophy is to retain and attract the best players. We have £165million in the bank but in some ways we would prefer to have £80million in the bank and Ronaldo on the pitch."