Manchester United: Tampa Bay's Malcolm Glazer buys Manchester United

Manchester United fans have reacted angrily to speculation that they would be willing to play any part in a takeover of the club by American businessman Malcolm Glazer.

It had been claimed Glazer was set to meet major shareholders John Magnier and JP McManus on Tuesday to discuss a buy-out of the Irish duo's 29.8% stake in the Old Trafford club.

Such a move would take Glazer over the 30% threshold and force him to make an offer to take over the club outright.

In an effort to avoid shelling out the £700million it would cost to complete such a venture, it was also reported that Glazer - who owns the Tampa Bay Buccaneers NFL franchise - may allow supporters to gain a 20% holding in an effort to appease their suspicions without weakening his control.

However, influential supporters group Shareholders United, whose membership has now risen above 10,000, insist they will not have anything to do with Glazer's plan and will fight any attempt to seize control of the Red Devils no matter who lodges the bid.
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[Edited on 16/5/05 by TRD]

All on the news today is that Glazer is going to stage a takeover of Man United....

A representative of prospective Manchester United owner Malcolm Glazer have made official contact with the club's major shareholders, just as Red Devils fans were stepping up their fight to block any takeover plan.

Representatives of John Magnier and JP McManus, who through their Cubic Expression holding company own 29.3% of the club, have spent the week rejecting suggestions there had been any contact between themselves and Glazer, who is widely believed to be behind the 'preliminary approach' the Old Trafford club revealed to the Stock Exchange on Monday.

However we understand the situation changed on Thursday night when an official from the Glazer camp made an 'unsolicited call' to representatives of Cubic Expression, to bring to them up to date with their present position.

It is not thought that any share purchase was discussed and there is no suggestion that a deal between the parties is imminent.

But the news though is bound to alarm United fans who staged a noisy protest at Altrincham's Moss Lane ground on Thursday night, briefly halting United's reserve team game with Birmingham.

Sportinglife

Manchester United's most influential supporters' group will rely on people power to stave off a takeover bid from American billionaire Malcolm Glazer.

Shareholders United have launched an ambitious drive for up to 100,000 new members in a bid to increase their voice in the event of Glazer's attempt to seize control.

On Monday they announced an offer of free membership to their Supporters' Trust in the hope that shareholding fans will mobilise together to deter both Glazer and his potential partners.

Shareholders United vice-chairman Oliver Houston said: "It's not just about how many shares there are in the hands of fans, but how many fans there are holding shares.

"A big bloc of shares gives us voting power, but a large number of shareholders gives us people power - the combination is a powerful force."

Shareholders United believe Glazer would plunge the club into debt by borrowing heavily against future income to finance his takeover.

Sportinglife

Looks like he could get it, the racing boys are having talks about selling their shares!

Yeah i read that and i won't be surprised if they cash in. Will Glazer be good for Man U though?

Manchester United supporters' groups have reacted with dismay to the news that US tycoon Malcolm Glazer has increased his shareholding in the club.

Fans who railed against the prospect of Glazer taking a controlling interest in United were lifted on Thursday when it emerged his plans for an outright takeover had collapsed as Manchester United's majority shareholders John Magnier and JP McManus opted not to continue discussions over the sale of their 28.9% stake.

However, the owner of the Tampa Bay Buccaneers NFL franchise has now swept up another 15.4million shares at a cost of 45million, taking his overall holding to 25.3%.

American business tycoon Malcolm Glazer has increased his stake in Manchester United to 27.63% after purchasing another 17million worth of shares on Monday.

A senior figure in the Malcolm Glazer camp has rejected suggestions Old Trafford could be sold off to raise funds for a takeover bid for Manchester United.

The American business tycoon is considering whether to lodge a formal offer for the Premiership giants after taking his stake in the club to 28.1% at the beginning of last week.

Details of how Glazer, owner of the Tampa Bay Buccaneers NFL franchise, would fund an 800 million takeover have been sketchy, although it is known he has employed leading bankers JP Morgan to investigate ways of raising the cash.

It has now been rumoured that one of the methods that could be used is to sell United's historic home and lease it back, a move that would be highly controversial as well as potentially financially damaging.

United fans, already fierce in their opposition to Glazer's involvement with the Red Devils are sure to use the speculation to back their view that the 78-year-old knows nothing of the history of their club and cares only about increasing profit.

However, a senior source close to Glazer has refuted the rumour outright.

Malcolm Glazer will make David Gill sweat before deciding whether he wishes to pursue his takeover plan for Manchester United.

The Old Trafford board had been expecting some kind of public response from the American business tycoon after they had notified him the talks had been broken off because they were not happy with the deal he was arranging.

While Gill has been eager to claim Monday's announcement that Glazer's proposed purchase was not in the best interests of the club due to the massive debt it would incur, should not be seen as part of a personal dispute, it was a bold statement against someone who owns 28.11% of the organisation.

Instead of offering a knee-jerk response, Glazer has decided to say nothing, other than offer private assurances that he remains a long-term investor in the club.

The move will leave Gill on edge, particularly with United's annual general meeting on November 12 just over a fortnight away, as Glazer could yet launch a hostile bid, or attempt to re-open talks with major shareholders John Magnier and JP McManus in a bid to conclude a sale that would give him almost 60% of the club.

Sportinglife

Malcolm Glazer's attempts to seize control of Manchester United have intensified following confirmation that he was prepared to alter the structure the terms of a 250m deal with major shareholders John Magnier and JP McManus.

The American business tycoon has been stalking the club for the last month, since he made his 'preliminary approach' to the Old Trafford board on October 4.

In that time, Glazer has increased his stake in the Red Devils from 19.1% to 28.11% at a cost of more than 65million, stopping just short of the 30% threshold that would trigger a formal takeover offer.

When United chief executive David Gill announced last month that the club had broken off discussions with Glazer due to the massive amount of debt any bid would require, it was widely assumed the 78-year-old owner of the Tampa Bay Buccaneers NFL franchise would call a halt to his buy-out bid, especially as Magnier and McManus had also cut off negotiations over the potential purchase of their 28.9% stake in the club.

However, it has now emerged that Glazer has changed the terms under which any deal with Magnier and McManus' Cubic Expression investment vehicle would take place.

Rather than let Cubic wait for payment until he has acquired a 75% stake, Glazer has let it be known he would now pay the money once due diligence was completed, which would effectively be within seven days of the deal being done.

Sportinglife

FIFA president Sepp Blatter has backed Manchester United supporters' groups in their opposition to Malcolm Glazer's attempts to buy the club - though insists he cannot use his position of power to intervene directly.

The figurehead of the sport's world governing body wrote to Shareholders United, a group representing shareholders in the club, who are determined to head off the American businessman's efforts to seize control of the club.

In his letter to SU, Blatter said: "Football has indeed changed over the years, but not all change has been for the better, and the continued commercialisation of football, as we can observe it, is one case in point.

"The good it produces for the few is the harm it does to the sport in the long run.

"The ideas (SU) propose are excellent but FIFA cannot interfere in national issues, nor must we do so. I shall give your initiative my utmost consideration and assure you we will not hesitate to include some of your thoughts and suggestions in our internal discussions without delay."

SU have also been boosted by news that US-based law firm Weil Gotshal and Manges have offered to advise them for free in their fight against Glazer, who has redefined the terms of an offer for the 29% stake held by Cubic Expression pair John Magnier and JP McManus.

Sportinglife

it looks like hes gonna make a new bid

"The board of Manchester United confirms that at a shareholder meeting, Glazer has indicated, on a very preliminary basis, potential revisions to its previous proposal," said a statement from the club.

"The board does not intend to open discussions on this matter unless it receives a definitive proposal from Glazer."

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Malcolm Glazer could be readying himself for a fresh takeover assault on Manchester United after linking up with another bank. The American tycoon currently holds a 28.11 percent stake in The Red Devils and made a move to buy the club in October.

That plan was rejected by United as Glazer wanted to borrow money against the club to finance his takeover bid. He then flexed his muscles by ousting three members of the club's board before being dropped by his previous bank JP Morgan. In December, United confirmed there had been very preliminary talks regarding another possible takeover attempt by Glazer.

It now seems as though he may be preparing for another bid after gaining the backing of the British investment bank NM Rothschild. Rothschild are not understood to be helping to fund Glazer's bid but they are advising him on the best course of action.

Skysports

Manchester United shares rocketed by almost four percent on Monday morning following confirmation of Malcolm Glazer's approach to the Old Trafford board. Shares were trading at 279p, up 10.3p on Friday's closing price, as United chief executive David Gill and the rest of the Red Devils board started their analysis of the 'definitive proposals' put to them by Glazer over the weekend.

The American business tycoon is believed to be offering 300p per share, valuing the club at 800million, and would proceed with a formal bid should his current proposals get the green light. Having told Glazer in December that he would not enter into any further discussions about the future of United until there were more concrete plans to examine, Gill is clearly taking the latest offer seriously.

Fans are vehemently opposed to any single individual taking control of United, a stance that has been backed in recent times by Sir Alex Ferguson, Eric Cantona and Ole Gunnar Solskjaer.

Sportinglife

Hundreds of Manchester United fans staged a demonstration at Old Trafford on Wednesday evening to protest against Malcolm Glazer's proposed takeover of the club. Around 1,000 supporters gathered after word was spread by internet and mobile phones. The demonstration was trouble-free in the main, although fans sung songs which contained death threats to the American tycoon. Police made two arrests for public order offences during the two-hour protest, but maintained a low-key presence. The rally came after Glazer launched his third attempt to buy United earlier in the week.

Skysports

David Gill has warned Malcolm Glazer that if there was a way to deliver higher profits for Manchester United, the present board would have found it. The Old Trafford board are bracing themselves for a formal 800million bid from the American business tycoon, who believes he can make vast sums on the back of the club's huge worldwide support.

Gill has previously described Glazer's proposals as "aggressive" and "potentially damaging".

He has already spent 500,000 on legal and financial advice trying to counter the move, a bill that will rise steeply once an offer has been made.

The Tampa Bay Buccaneers owner has kept the precise details of how he would fund his takeover approach under wraps, but he would almost certainly need to make more than the 14.2million half-year profit United announced to the Stock Exchange this morning.

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Manchester United's beleaguered board will take another step towards staving off the threat of a Malcolm Glazer takeover on Friday - and upset their supporters at the same time.

Next season's ticket prices are due be confirmed to a scheduled meeting of the fans' forum with chief executive David Gill under pressure to raise revenue.

Aside from trying to minimise the impact of a 50% loss in half-year profits, Gill must also show shareholders, in particular Cubic Expression partners John Magnier and JP McManus, the club is being run to its maximum financial potential.

With United recording capacity 67,000 crowds for every home game this season, apart from three European ties against Dinamo Bucharest, Sparta Prague and Lyon, and the club bullish about filling the extra 7,900 seats created by the forthcoming stadium expansion, the scope for increases is obvious.

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Malcolm Glazer is ready to turn the heat on David Gill if his 800million Old Trafford takeover plans fail to earn the backing of Manchester United's beleaguered board. The American businessman has presented another set of proposals to United's financial advisors Cazenove, outlining his funding plans for a bid which is sure to attract the overwhelming disapproval of a vast majority of United supporters.

The Tampa Bay Buccaneers owner expects chief executive Gill, chairman Sir Roy Gardner and the rest of the Red Devils directors to spend 'a week to 10 days' examining the proposals in minute detail before indicating whether they would be willing to recommend them to the rest of United's shareholders, including the Cubic Expression investment vehicle of John Magnier and JP McManus.

Unless Glazer's 300p-per-share offer is radically different from the one he presented to Gill in February, which United described as 'aggressive' and 'potentially damaging', it seems highly unlikely it will win official approval. In such a situation, unless Gill opts to steer a third, neutral, course, Glazer will be forced to back down or, more likely, get nasty.

Rest of story

Manchester United have handed Malcolm Glazer a deadline to announce whether he intends to buy the club. The American tycoon has been seeking to buy the Old Trafford for some time only for his attempts to be rebuffed. Glazer has handed over detailed proposals for a possible takeover in February but the club stated they were unlikely to accept the American's offer. Now the takeover panel have set a deadline on May 17 for Glazer to disclose whether or not he is to pursue a takeover of the club's plc .

Rest of Story.....