Alex Ferguson's long-term job security remains in doubt after the Glazer family authorised a public acknowledgement of their disappointment at Manchester United's Champions League exit.

"They are obviously disappointed and anyone who cares about Manchester United will share that disappointment," said a family spokesman. "There is no way I am going to say it doesn't matter. We wanted to be in the draw next Friday. But by all accounts the team have underperformed in Europe in contrast to a relatively satisfying performance in the Premiership.

"However, (the Glazers) had considered the ramifications of United losing because as business people they have to think about all the options. We always appreciated Manchester United could lose. It wasn't a shock. It will have no bearing on their future long-term ownership."

The spokesman declined to discuss Ferguson's position, citing "a blanket policy not to talk about personnel".

He said the Glazers were reviewing the club's progress as an "ongoing process". He added: "Because they don't court the media, the assumption is of pygmies, out of their depth, naively expecting treble after treble.

"The facts are they have owned the Tampa Bay Buccaneers for 10 years and been significant investors in Manchester United for nearly three. So they know as well as anyone the allure of investing in sport is as much to do with the downs as well as the ups. When things are down, fans and the media get nervous and panicky. When things are up, it's euphoric.

"There's enough slack in the family's investment in Manchester United, corroborated by the experience of running another large sports franchise in the Buccaneers, to take this in their stride."