THE Red Knights consortium has said that it will not pay over the odds for Manchester United.
Businessmen led by Keith Harris have expressed an interest in the Premier league runners-up but have now suggested that they will not pay more than £1bn for the club current.
They said in a statement: “We have had productive conversations with potential investors in recent weeks which have reinforced our belief that it is wrong to offer above fair value, particularly given the urgent need for the club to reduce debt.”
A spokesman for the Glazer family which owns the club, said that United was not for sale.
Manchester United was bought by the family for £800m in 2005.