Rawlinson's Red Knights shelve Manchester Utd bid as price tag rises

The Red Knights - the group of City financiers which includes Freshfields Bruckhaus Deringer London corporate head Mark Rawlinson - have put their billion-pound bid for Manchester United on hold. In a statement, the group said that it was only interested in purchasing the Premiership club at a "sensible" price after news recently emerged that the club's current owners had rejected a £1.5bn offer from a Middle Eastern investor last year.

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