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

Malcolm Glazer has taken another major step towards taking overall control of Manchester United by buying more shares from Harry Dobson. The American tycoon followed up his buy-out of Irish duo J.P.McManus and John Magnier's Cubic Expression vehicle by splashing out on the 17 million shares owned by Dobson's Mountbarrow Investments Ltd. With Dobson selling his 6.45 percent stake in The Red Devils, it is surely only a matter of time before Glazer has the 75 percent total that rubber-stamps his takeover and takes the company private.

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That story you posted just yesterday TRD stated that he then had 63.25% of United, it looks like he took another step today nearing in on 71.8%, even closer to the 75% that he needs to take complete control.



Glazer ups Man U stake to over 70 percent, states takeover terms

Tampa Bay Buccaneers owner Malcolm Glazer increased his stake in Manchester United to 71.8 percent Friday, close to the 75 percent he needs to complete a $1.47 billion takeover for the world's richest soccer team.

Glazer's company, Red Football, said it would borrow $490 million to fund the buyout. Glazer is offering stockholders $5.55 a share.

The terms were announced in a statement to the London Stock Exchange.

Glazer needs to own 75 percent of United to take complete control. His ownership reached 56.9 percent Thursday after he bought out joint majority shareholders J.P. McManus and John Magnier, Irish race horse owners. He previously owned 28.1 percent of the club.

Later Thursday, several thousand fans gathered outside Old Trafford stadium to protest. English fans fear Glazer will raise prices and sell key assets like Old Trafford stadium.

Two weeks ago, Man United's board said it would not recommend Glazer's takeover to investors because his business plan appeared "aggressive."

www.sportsline.com...







[Edited on 5-13-2005 by ProudAmerican]

Is it possible that this could be good for the sport of soccer in the US? Obviously, Glazer is interested in this team, which, if I understand correctly, is one of the more popular teams in Europe, similar to the Cowboys, Yankees, or Lakers.

If he's that interested, would he bring them over here more often, and drum up interest?

Gibbs not one of the most popular, its the most popular. Man United are the richest club in football, well that was until Roman Abromavich bought Chelsea. His billions will make them the richest, but Man United have built it from nothing...

As for Glazer taking them over i'm not sure yet if it will be good or bad. It looks like he has had to borrow 220million or so to fund the takeover. That means when he does have total control, the club will take over his debt of 220million. That is not good at all...

Man United have played the last two years in a tounament in the states and they are massive in asia aswell, so they don't need to drum up buisiness. They have some of the best players in the world and have been one of the most consistant trophy winners in the past 10 years...

yip. man utd are huge, everyone knows who they are that watches football

i think it was 1991 they became a PLC and thats when there fortunes started to change.

i dont really know if its good, the people who bought shares into Man Utd originally when the became a PLC, half of them most likely dont know anyhing about football, it was a business venture cos, when you look at it, its a company/business. and these guys made money out of it too.

yer, thats true what you said TRD about the money being borrowed, is it all loans? as soon as he reaches 75% that will become the clubs debt, and i think if that happens there is talk the staduim will be sold.

his Tampa Bay team, are the the biggest in there sport? is it american football hehe. i dont know lol.

if he takes over, some fans are supposed to be saying its bad for football. cos man utd are the biggest, stop treating teams equally, give them more money cos they are bigger than the rest. e.g. tv deals.

also, hes buying the name... 'Manchester Utd', is this a step to make soccer bigger in the US? like. if you own the bigggest names in a sportz, then you have Man Utd soccer team, and lets say, he makes a NHL team, a basketball team. and Tampa bay do the same. its like creating a super league

I thought they were the most popular, they were really the only club I had heard of prior to joining this site...

As for the team gaining the debt from him, that is basically the way it's done over here, so I wouldn't see tha being an issue. As you guys say, they are extremely popular, and they have the biggest names. The marketing cash created will overcome that debt, I would think.

ryno, what is a PLC

Tampa bay is not the most popular NFL (American Football) team, but they did just win the Super Bowl a few years back. I don't know if this rule is still in effect, but it used to be that NFL team owners were not allowed to own other american sports teams, so teh Galzer empire will stop there...

Tampa Bay Buccaneers owner Malcolm Glazer took complete control of Manchester United on Monday by increasing his stake in the world's richest soccer club to more than 75 percent.

Glazer bought more shares to take his ownership level to 75.70 percent by the end of Monday's trading, Glazer's Red Football Ltd. said in a statement to the London Stock Exchange.

With 75 percent, Glazer can place his personal debt on United's books and take the club off the stock exchange and into private ownership. Manchester United has been listed on the stock exchange since 1991.

The NFL, which usually frowns upon cross-ownership, isn't sure if its rules would prevent Glazer from owning a foreign club. The league's finance committee will discuss it during spring meetings in Washington next week.

Glazer is expected to submit a formal document to shareholders on Wednesday.

Reaction to Glazer's takeover has been mostly negative and defiant. Fans fear Glazer will sell off the club's 67,000-seat Old Trafford stadium and raise prices. They also oppose foreign ownership.

Fans groups are calling for a boycott of Man United sponsors and planning demonstrations at the FA Cup final against Arsenal on Saturday in Cardiff, Wales.

LINK

Gibbs a PLC is a public limited company....

The debt thing may be the way they do it in the states but they don't do it in football over here. It could financially cripple the club and send them into administration. Then he could sell off the assets (players, stadium ect) making himself an absolute fortune and then walk away with his pockets heaving. Therefore turning the most popular and successfull team in the last 10-15 years into a mess worth 2 cents...

No one actually knows his full intent and what is going to happen to the club. Players are talking that they want to leave, the manager doesn't know if he wants or has a job next season. Most of the current board of directors/staff ect ect will get the boot. They have been the crux of the franchise for years, building it up from virtually nothing into one of the richest most lucrative clubs in football.

So its not just about buying a team its a dynasty as you call it.

With the huge debt the club will find themselves with, where will the money come from to buy knew players? They not only command 2-5 million pounds wages per year, you have to buy the player aswell and if they are a top player there would be a fee of 10-30 million for each player.. The marketing cash will not outlay the debt, not in a million years, it would take years to recover from that sort of debt and that depends on wether they win the league and european champions league trophies.. They would have to do that for most proberly the next 5 years which just isn't going to happen.

this Saturday coming man utd have a big big match, is Glazer going to be in the stadium cos you can imagine this ammount of bad feelings thats going to exist.

i aint sure how this debt thing is going to work, if that happens here like TRD said, liquadorts come in and there is adminastration.

is Glazer the type of guy who is just after increasing his pocket?

If Ferguson goes, then loads of the players are going to leave, it will be the end of a era as they say

Is there a slight over reaction from the Utd fans? For all you know Glazier could be the best thing for them

well, i know what you mean, nothing has really happened yet, the stadium hasnt been sold and we dont know his intentions.

the thing i see people forgetting, the people who had shares in the team, all saw taking control of Man Utd as a business venture, they didnt have much intrest in Football, it was about making money.

one of the things that keeps getting mentioned in this thread is that he might sell the stadium, who would buy it? wouldn't that be like selling yankee stadium over here? where would that leave mu to play? would they rent the stadium back for their games?

Originally posted by dilly
Is there a slight over reaction from the Utd fans? For all you know Glazier could be the best thing for them

That could be quite possible, but he is having to borrow over 200 million and now the club will carry the debt. So the coffers will be bare, no new players, nothing... So how can they go forward as Glazer has no cash to buy players ect ect.. Except borrow more against the club and get futhur into debt, untill the creditors decide to pull the plug...

Originally posted by toejam
one of the things that keeps getting mentioned in this thread is that he might sell the stadium, who would buy it? wouldn't that be like selling yankee stadium over here? where would that leave mu to play? would they rent the stadium back for their games?

I'm not too sure but it would be prime retail worth millions... Maybe renting it back to them is a possibility but that would be a revenue lost as the amount they would have to pay... As i said the debt coinciding with everything else could cripple them as Glazer is no Roman Abramovich, he doesn't have billions and Glazer had to borrow millions to buy the club in the first place which the club now is burdened with.

is he making a large profit out of Tampa Bay?

man utd do need to buy players, they are going to lose grip on chelsea, and i think arsenal if the gunners spend, and liverpool are on the up

i remember, didnt real madrid sell there training ground to the government for like 200 million? if they sold there stadium, there would be a contract and in it they could say, we play on it when we have matches, the only thing that changes is that its property of the government or something and there is tours of the governments accord. something like that maybe?

i have been reading, none tottaly accurate or relaibe sources to be honest, but they say glazer and his businesses are worth around 500 million. that aint cash he has spare or laying around

you know the good thing about this hehe.... dermot desmond is a celtic shareholder, a major one, well he had stakes in man utd and cos he sold his, he supposed to pump 15 million to martin o'neill to spend at parkhead

One thing is, would he sell Tampa Bay and put the money into Man United?

The only thing is once the debt is cleared it would wipe out half of his money. The rest wouldn't last that long in todays market and he could lose the lot and have to end up selling Man United lol!

Owning a football club is not like a American Football club, he might be a good buisinessman but i don't think he fully knows what he is letting himeself in for, i might be wrong and things turn out for the good but i just can't see it happening...

i think its A or B

is he there to help the club, to make them stronger and pour money into them to make them win and challenge for things

or

B) hes there to make a profit, to make money

i am with B

and for that reason, if that is his intention he must know if its possible to make money cos its too big a gamble to lose. well to be honest, is it a gamble cos hes cleared of that debt now lol

Dilly seems to have made the best comment in this whole thread, it's a massive over reaction by everyone involved.

The guy isn't going to invest millions in the club to run it into the ground! Every major shareholder is in it for the money and Man Utd is a cash cow. Saying that though if the club doesn't achive then Glazier wont make money so he has a vested intrest in improving the team and seeing them win stuff.

The debt is high but J P Morgan are loaning over 200m and they aren't the type of company to flog a dead horse. He is putting up 25m of his own money as a transfer kitty, this is on top of what the manager would get anyway, which has to be a positive statement of intent. Yes we know he isn't a true Man Utd fan and doesn't follow football but neither was Roman at Chelski. His sons know what is going on and he has good advisors, you don't make that much money if your stupid.

I think Utd will aggresively target America as a new base, they already have Spector who is a qualtiy full back, I think this could also be a good time to rekindly interest in Freddy Adu. This would open up a new fan base and build on what they have already done.

Fergie must be happy this has happened, it now gives him the chance to leave the club with a bang and people won't remember the fact that Utd have finished third three times in the last four seasons and signed Kleberson. If he stays and they flop he can blame Glazier, if he leaves he can blame Glazier, it's a win/win.

Only time will tell if it works out but I think its being a bit pessimistic to think it's the end of the club.

there was a russian guy who bought a team in the uk a year or so ago, has the public perception of him changed over the time he has owned the team, and are the officials expecting a lot of trouble at this weekends game?