Given the amount of debt on Manchester United's books at the time, some analysts estimated in 2010 that any takeover bid would have had to total more than £2 billion, of which around £1.6 billion would be needed to match the Glazers' valuation of the club – double what they paid for the club in 2005.[75] However, the Red Knights publicly stated that they would only pay "a fair price" when their takeover bid finally came.[76] On 11 March 2010, the Red Knights appointed Nomura Securities Co. as their advisers for their takeover bid.