Glazer gets majority stake in Manchester United

NickelBack · May 12th, 2005, 06:50 AM

U.S. sports tycoon Malcolm Glazer gained a majority stake in Manchester United on Thursday and launched a bid for the rest of the shares, valuing the English soccer club at 790 million pound ($1.5 billion).

Red Football Ltd, acting on behalf of Glazer, said it had agreed to buy a 28.7 percent stake in Manchester United from the club's leading shareholder, Irish race horse magnates John Magnier and J.P. McManus, for 300 pence a share to add to his existing 28.1 percent stake.

As a result of the deal with the Irish, Glazer will hold around 56.9 percent in the world's richest soccer club and in accordance with UK takeover rules is required to launch a bid for the rest of the club.

http://news.yahoo.com/news?tmpl=stor...ed_glazer_dc_1

Stout · May 12th, 2005, 07:35 AM

All right...the Irish screw over the biggest bandwagon English team...I love it!!!

Renz · May 12th, 2005, 09:00 AM

Ha Ha! The Mancs will soon be owned by a Yank!

I love how their "supporters" have threatened to boycott matches and team sponsors if Glazer takes over the club. Yeah, right.

SouthNZoneFan · May 13th, 2005, 06:14 AM

Quote:

Originally Posted by Renz

Ha Ha! The Mancs will soon be owned by a Yank!

I love how their "supporters" have threatened to boycott matches and team sponsors if Glazer takes over the club. Yeah, right.

They are owned by a Yank now! I have not seen this much hate since John let Yoko sing in the background of the Beatles album...