Ferguson 'insulted' by accusations

It was anticipated opposition to the IPO amongst Manchester United fans would be extensive when it was discovered earlier this week that the Glazer's only intended to use half of the proceeds - approximately £75 million ($111.27 million) - to pay off the club's massive £423 million ($627.54 million) debt.

However, attention quickly turned to a revelation within the official prospectus that senior management at Old Trafford would also profit from a '2012 Equity Incentive Award Plan' share scheme.

That led to some concluding Ferguson and chief executive David Gill - as the most obvious examples of senior management - would be amongst them.

Gill is prevented from discussing the matter under IPO rules.

Ferguson is under no such restriction. And, stung by claims his recent pro-Glazer comments were delivered with the promise of additional financial reward, the Scot has hit back hard.

"In regards to suggestions that I have praised the Glazer family because I stand to financially benefit from the proposed IPO, there is not a single grain of truth in this allegation," he said.

"I do not receive any payments, directly or indirectly, from the IPO."

The most successful British manager of all time, Ferguson is not thought to be the highest paid Premier League boss and indicated he would have left United if cash had been his prime motivation.

It is why he has been so annoyed at the slur against his character.

"My decisions and beliefs are not based around what is best for my personal financial gain," he said.

"That is an accusation that insults me. If that was the case I would have left Old Trafford a long time ago."

Ferguson has repeatedly stressed his gratitude to the Glazers since their leveraged takeover in 2005 for letting him get on with his job, and providing the funds he wanted to compete in the transfer market.

It has to be said, in terms of actual management, United has been far more stable than Liverpool and some of the other rival clubs who have welcomed foreign owners.

Others argue he is operating with one hand tied behind his back.

They point to the £500 million ($741.82 million) which has been used to pay assorted fees associated with the takeover and wonder what trophies United would have gathered had that sum been invested in Ferguson's squad, allowing it to compete with the likes of Manchester City and Chelsea.

"Ultimately, I run the football side of this club and in order to do this, you need backing from above," he said.

"The Glazer family have let me get on with my job, there is no interference or obstruction, only support.

"I am speaking because I do not want a situation to develop whereby the media and other parties create a rift, however small, between myself and Manchester United.

"I've spent 25 years of my life pushing this club forward and not only could I not have done that without those fans, I do it for them."

Ferguson's statement offers a clear challenge to meet the accusations, raised, amongst others, by the Manchester United Supporters Trust, head on.

The Scot has repeatedly claimed he has always been given the money he wanted to spend in the transfer market and the reason for his relative inactivity is that there is no value in certain targets.

United takes on Norwegian outfit Valerenga in the latest stage of its pre-season tour this weekend, which also includes matches against Barcelona and Hannover.

The Red Devils are still being linked with Robin van Persie, Leighton Baines and Brazil Olympic star Lucas Moura, although so far, the only arrivals have been Japan playmaker Shinji Kagawa and England Under-18 international Nick Powell.