We will keep United for seven more years, say defiant Glazers (go back to the homepage) LONDON—A consortium of well-heeled Manchester United supporters, known as the Red Knights, said they were exploring the possibility of launching a bid for one of the world's richest football clubs. Financiers involved in the Red Knights include former Football League Chairman Keith Harris; Goldman Sachs Group Inc. economist Jim O'Neill; Mark Rawlinson, a partner at London law firm Freshfields Bruckhaus Deringer LLP; and Paul Marshall of London hedge-fund Marshall Wace LLP. The group hasn't yet approached the current owners, the Glazer family of Florida. The Glazers—who have said they aren't interested in selling United— are facing mounting criticism for the $1.07 billion debt that has accumulated since they bought the club in 2005. The family says it has narrowed the debt and last month launched a £500 million ($747.3 million) bond issue, which was oversubscribed. Yesterday, the club said it managed to narrow its debt slightly to £507.5 million in the last quarter of 2009, from £538.1 million for the same period in 2008. The Red Knights group has promised supporters a "golden share" in the club so they can approve or veto future owners should it successfully take over the club. The club is currently valued at $1.3 billion, but with the Premier League gaining popularity, Manchester United may become more valuable. "If the Premier League continues to ensure growing international audiences, the value [of the club] 10 years from now will be vastly increased," said Stefan Szymanski, professor of economics at Cass Business School in London. The Red Knights have said that for the proposal to be viable "it would require the involvement and support of Manchester United supporters world-wide." United has an estimated 300 million fans. Despite a highly visible protest against the Glazers that has seen United fans ditch the club's famous red shirts in favor of green and gold—the colors of Newton Heath, its original incarnation until 1902— only 54,000 supporters are members of the Manchester United Supporters Trust, or MUST, which has expressed support for a takeover. Season ticket renewals have dropped by roughly 7,000 this season, and luxury box usage has fallen 16%. In last week's home match against West Ham, a significant number of empty seats were visible.