Manchester United manager Sir Alex Ferguson has rubbished the recent media claims regarding his recent backing of the Glazer family are motivated by personal gain. Ferguson has claimed he is 'insulted' cause some of United fans who opposed to the Glazer family's ownership  wondered whether Ferguson was amongst them.

A financial analyst and an adviser to the Manchester United Supporters Trust, Andy Green had suggested that Ferguson could profit from the controversial £204m IPO, which the Glazer family are now saying will only partly go against United's £437m debts.

Reports on Monday suggested senior management figures will receive shares from the IPO. Ferguson has hit back regarding the entire incident by saying "There is not a single grain of truth in this allegation. This is an accusation that insults me."

"Being aware of the media coverage that is currently ongoing I felt, on this occasion, that I should make my position clear to the Manchester United fans. In regards to suggestions that I have praised the Glazer family because I stand too financially benefit from the proposed IPO, there is not a single grain of truth in this allegation. I do not receive any payments, directly or indirectly, from the IPO."

Ferguson's support to Glazer family has created a topic of debate between few United fans. Many United fans dislike the Americans for running up massive debts during their leveraged buy-out of the Old Trafford outfit in 2005.

"Ultimately, I run the football side of this club and in order to do this, you need backing from above. The Glazer family has let me get on with my job, there is no interference or obstruction, only support. My decisions and beliefs are not based around what is best for my personal financial gain" Ferguson said.

"That is an accusation that insults me. If that was the case I would have left Old Trafford a long time ago. I am speaking because I do not want a situation to develop whereby the media and other parties create a rift, however small, between me 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 went on to add

Ferguson has supported and backed the Glazers family for their support. The Scot claims he has always been given the money he wanted to spend in the transfer market. The reason for his relative inactivity is that there is no value in certain targets.

United are currently linked with Arsenal Skipper Robin Van Persie, Brazilian wonder kid Lucas Moura and England International Leighton Baines during the current Transfer window. Ferguson and United should not get distracted and carried away with the current situation instead need to focus on buying more players in the current transfer market.