Warnings over Ferguson deal talks
MANCHESTER, England (Reuters) -- Manchester United's contract talks with manager Alex Ferguson are on course despite reports the club's major shareholders want to limit the length of any new deal.
"Both sides feel comfortable that everything is going well. There are just one or two things to sort out," a spokeswoman for the English champions said.
United, meanwhile, told the London Stock Exchange they will conduct a thorough internal review of recent transfer dealings. The move follows recent newspaper reports.
A statement made it clear that the buying and selling of players and contract negotiations were conducted by the board and not Ferguson.
"Manchester United believes its processes and policies are among the most rigorous in football," said a statement.
In February 2002, Ferguson rescinded a decision to retire and signed a three-year contract until the end of next season.
Newspapers said the club's biggest investors, Irish businessmen John Magnier and J.P. McManus, might demand an extraordinary general meeting if Ferguson's contract was extended by more than a year.
Magnier is involved in a legal battle with Ferguson, British football's most successful manager, following a row over stud rights to record-breaking racehorse Rock of Gibraltar.
The Financial Times said the pair would press for the appointment of an independent auditor to study player transfer deals and payments to agents over the past five years.
A supporters' group said it believed Ferguson, 62, was being unfairly targeted.
"Sir Alex is undoubtedly one of the club's and the company's best assets," Shareholders United said in a statement. "It would be a disgrace if personal score-settling ... were allowed to win the day."
United's shares have risen strongly in the wake of buying by a number of rich investors over the past year, and McManus and John Magnier raised their stake to 25.49 percent last week through their investment vehicle, Cubic Expression Ltd.
Manchester United's second biggest shareholder is U.S. sports entrepreneur Malcolm Glazer who raised his stake in the northwest England club to 14.31 percent in November.
