- Berkshire County eschews greenback for own currency — BerkShares
- Hagel warns Pakistani leaders of U.S. aid losses over drone-strike protests
- Florida authorities ban autistic boy from owning therapeutic chickens
- Defendant in Lee Rigby machete murder trial: ‘I love al Qaeda’
- Obama lied about Syrian chemical attack, ‘cherry-picked’ intelligence: report
- MSNBC host: Obamacare a ‘wealthy white men’ racist word
- Democrat thwarts Nevada activist’s try to name peak after Reagan
- Congress ready to extend ban on plastic firearms
- Rogue reindeer runs from Santa, eludes police for hours
- Iran touts new laser that bolsters missile accuracy
Man United chief executive David Gill to step down
LONDON (AP) - Manchester United chief executive David Gill said Wednesday he is to step down in June after a decade at the helm of one of the world’s most valuable sporting clubs.
His move will deprive long-time manager Alex Ferguson of one of his closest confidants at the soccer club that was taken over in 2005 by the Glazer family, who also own the NFL's Tampa Bay Buccaneers.
Gill’s responsibilities from July 1 at New York-listed Manchester United will be assumed by executive vice chairman Ed Woodward, although he will remain on the board that will eventually choose Ferguson’s successor as manager.
Ferguson has been manager since 1986 and his tenure has delivered unprecedented success for the club, which currently leads the English Premier League by 12 points. He has yet to say when he plans to retire.
“I am looking forward to continuing my involvement on the club board,” Gill said. “And I hope to be able to make a contribution to the game on a wider national and European level.”
Following six years as finance director, Gill became chief executive in 2003.
The buyout by the Glazers angered some fan groups because of the debt that was loaded onto the club. But those liabilities have been cut in half in the past three years to 366.6 million pounds ($567 million), partly from the proceeds of last August’s flotation on the New York Stock Exchange.
Forbes last month said United’s enterprise value, which subtracts debt from equity value, has risen to $3.3 billion, the highest for any sports team in the world.
Last week, United forecast revenue of between 350-360 million pounds ($535-550 million) for 2012/13.
By Brahma Chellaney
Beijing's creeping aggression signals a challenge to U.S. presence in the Asian Pacific
- CURL: Obama tells a whopper on IRS scandal
- Tech companies call for an end to NSA online snooping
- WOLF: The president's other Obamacare lies
- Satanists petition for statue at Oklahoma Statehouse
- Lawmakers see 'false narrative' of Obama as a terrorist fighter
- Obama lied about Syrian chemical attack, 'cherry-picked' intelligence: report
- MSNBC host: Obamacare a 'wealthy white men' racist word
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
- Ted Cruz sees legal landmines ahead for Obamacare
- Bill OReilly reminds: Nelson Mandela was a communist
Independent voices from the The Washington Times Communities
A politically conservative and morally liberal Hebrew alpha male hunts left-wing viper
Find the latest news and happening that effect those in the Washington D.C., Northern Virginia and Maryland Metro region.
White House pets gone wild!
Let it snow