What next for the Red Knights?
The Red Knights may have put their charge for Manchester United on hold for now but their announcement on Wednesday is unlikely to mark the end of the controversy surrounding the Glazers' ownership of the Premier League club.
While it is undoubtedly true that the American family's £1.5bn asking price has deterred a significant number of potential investors, senior figures in the Red Knights campaign, including the Goldman Sachs economist Jim O'Neill, insist they will not give up.
Having amassed around 70 wealthy backers, the Red Knights are now down to about 25. But they will not do anything until after the World Cup and probably not until after the new season kicks off.
Fans have worn yellow and green scarves to Old Trafford to protest against the Glazer Family's ownership
Three months after the story first emerged, many will question whether these mysterious, publicity-shy Knights exist at all. And if they do, can they ever overcome the difficulties of pulling together a group of seriously rich people - with all the egos that involves - to make a bid which, in the end, is supposed to be philanthropic?
Sources close to the Glazer family believe the whole thing has been a publicity stunt. But, in one sense, it has been an effective one.
Shaken by the green and gold campaign from the supporters inside Old Trafford and the Red Knights in the City, the Glazers have had to mount a PR offensive in an effort to deflect the barrage of criticism over the club's debt mountain.
Last week's interview in the Independent with chief executive David Gill, a man who usually shuns all newspaper requests and sticks to radio and press conferences, was the clearest sign yet that the club and the Glazers are rattled.
Equally, just because the Glazers have increased commercial revenue, it doesn't mean the concerns over the £700m-plus debt will melt away. The shocking £40m cost for an interest rate swap - revealed in last week's quarterly accounts - is a classic example.
And next week a Panorama investigation into the Glazers' US companies is expected to reveal even more worrying details about the scale of their debts. A Glazer family spokesman says they do have debts of at least £1bn but that they have assets worth more than double that.
So what next for the Red Knights?
They will watch the next quarterly results, due in September, closely to see what United's latest debt repayments are.
Season ticket sales - said by the Knights to be going badly for this crucial time of the year, a claim denied by the club - will also be a key indicator of the mood among fans. The Red Knights are at pains to point out they do not want to see a boycott.
Finally, and crucially, they will look for proof of whether the club is really able to compete in the transfer market while carrying such massive debts. There is almost £100m of cash reserves in the club supposedly available to manager Sir Alex Ferguson but the question is, will he spend it?
The Red Knights may go quiet but the scrutiny of the Glazers will not go away.