Soccer Glazer Reaches 75 percent

Malcolm Glazer has gone through the crucial 75 per cent barrier which will allow the American to take Manchester United off the Stock Exchange.

Sources close to the Glazer camp have confirmed the American tycoon has increased his stake from the 74.81 per cent he held on Friday evening, although precise confirmation of his exact shareholding will not be made until later this afternoon after the stock market has closed.

Leading brokers Teather and Greenwood are continuing to purchase stock on behalf of the Tampa Bay Buccaneeers owner and the race is on to reach the 90 per cent mark that would force a compulsory purchase of the remaining shares.

The American business tycoon has already pledged to delist United `not less than 20 days' after he reached the 75 per cent mark.

Glazer is expected to outline his plans in an official offer document to be released on Wednesday.

United fans, who have campaigned so vigorously against Glazer over the past few months, have been fighting a losing battle since Thursday, when it was confirmed Glazer had snared the 28.9 per cent stake of Irish racing duo John Magnier and JP McManus.

So far, the American has failed to make any public statement over his business plan, which Red Devils chief executive David Gill has consistently described as `aggressive'.

Gill could yet find himself in the extraordinary position of delivering Glazer's aims following Friday's statement by his son Joel that the `intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success'.

Sir Alex Ferguson's position is also not thought to be under threat, a move the Glazer camp hopes will appease the less militant members of United's support.

It has been claimed Glazer will need to treble current profits just to service interest payments on the £540million borrowings he has needed to take on to complete his £790million purchase.

The figures have caused consternation among some Red Devils fans, although others believe Glazer should be allowed to put his plans into action.

For Shareholders United and the Independent Manchester United Supporters Association, time is not something they are prepared to offer Glazer.

It has already been confirmed that a meeting of some fans' groups will be held in Manchester tomorrow to take the first steps towards establishing a breakaway club, while IMUSA have outlined the initial plans for what they hope will be a mass demonstration at this weekend's FA Cup final.

'We are calling on all supporters to wear black in Cardiff on Saturday,' said IMUSA spokesman Mark Longden. 'If they can get hold of black flags, they should wave them because it represents what is happening to the club.

'In addition, people should decline to renew their season tickets and memberships and cancel subscriptions to MUTV.

'We would also urge them to boycott the products of sponsors such as Vodafone, Nike, Budweiser and Audi and explain to those companies why.'

Source: http://soccernet.espn.go.com/headlinenews?id=333563&cc=5901


Your Opinions on this...

 

That's just plain silly. He buys the team for no reason but for his own good sake and wealth. He should be like Roman, pumping the team with money instead of using it for his own sake.

Plus, giving the club his own depth in cash is just selfish and ignorant. This, I agree with the supporters. Maybe the americans don't understand this, but Man Utd has a long tradition, and taking them off from the stockmarket is pathetic.

I wonder how the americans would react if an european went and bought all the stock exchanges of New York Yankees.

 

That is a great point. The reason they are protesting is because Glazer doesnt probably have a clue about the tradition and history about ManU and now he just comes and buys them off? That is kinda thoughtless...though Iam a Tampa Bay Buccaneers (which he owns) I still see no reason for this. Maybe he has no faith in Tampa anymore...

 

Looks like Glazer has reached 97% of all the stock exchanges. He even put some of his sons on the board.

Manchester United is a traditional club with great success throughout the centuries. If Glazer doesn't start producing some money into the club, I will feel sorry for Manchester. Fans said that if Glazer shows up on their asia tour, they will do anything to show their disgust over him.

- Teddz