Ed Woodward has indicated the Glazer family has no intention of selling Manchester United and are committed to the club for the long-term.
There has been speculation over the last year of interest from Saudi Arabia in taking over the ownership of United and club co-chairman Avram Glazer visited the United Arab Emirates last year to speak at the Misk Global Forum.
A British newspaper claimed on Sunday United had rejected two offers from the Saudi crown prince Mohammad Bin Salman Al Saud and there would be a third offer. United supporters have regularly expressed their antipathy towards the Glazers online over the last six months amid the club's slump in form.
Woodward speaks with Florida-based Joel Glazer on a daily basis and is also in regular contact with Avram, who occasionally attends games. Glazer siblings Bryan, Edward, Kevin and Darcie are among the club's board of directors.
"Based on what I see, they're in it for the long-term," Woodward said. "With regards to offers or asking prices, my understanding is that there have been no discussions for a price for the club or anything like that. Every conversation we have is based on the long-term.
"The debt is a long-term, structured and similar to some other football clubs. It's a fixed amount for a fixed period of time which results in it being fairly cheap to service. It's just under two per cent our annual revenue each year, so it doesn't really have any impact on us.
"If you look at the way the approach changed under the Glazers for commercial activity, that has brought in an extra £2.5-£3.5billion. We have spent a lot of money on players."
Woodward recently defended structure by claiming it is an 'insult' to suggest that the club is run by non-footballing figures. The executive vice-chairman branded it a 'myth' that non-football people make the football decisions at United and claimed the commercial side has never taken precedence over football matters.
At an annual all-staff meeting in one of the suites at Old Trafford, Woodward addressed around 400 club employees - including manager Ole Gunnar Solskjaer - and went on the offensive to clarify the football club is the priority.
"The reality of Manchester United is we are a club in two parts," Woodward said. "First of all, we are an incredible 141-year footballing institution with all that history, all that legacy, all that tradition and that tradition of success. That can never, ever change. We need to keep that protected.
"Then, like other football clubs, our commercial business allows us to reinvest in the football side. It's how these two interact with each other at Manchester United that results in us having a competitive advantage in this area. What's important is the commercial side is never allowed to take priority over the football side.
“There is a myth that we have non-football people making football decisions, and I think it’s insulting to the brilliant people who work on the football side in this club."
Woodward is rarely quoted on the record outside of the quarterly investors' calls but United took the unusual step of publishing his comments. He spoke about the Glazers' commitment to fanzine United We Stand.
