West Coast Connection Forum
Lifestyle => Sports & Entertainment => Topic started by: Woozie on May 12, 2005, 09:54:48 AM
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(http://united.no/data/images/illustration/Glazer.jpg)
American sports tycoon Malcolm Glazer has launched a formal £790 million takeover bid for Manchester United.
In a move that has taken observers by surprise, Glazer has crucially secured the 28.7% stake owned by the Irish horse-racing tycoons JP MacManus and John Magnier. That means he now owns almost 57% of the Premiership club.
Red Football Ltd, acting on behalf of Glazer, said the Irishmen had sold their stakes for 300p (£3) a share.
The bid comes five days before the 17 May deadline when Glazer had to make it known whether he planned to bid.
He is now 18% short of the 75% of shares he needs for the offer to go unconditional. If he gets 75% plus one share, United could be de-listed from the stock exchange and Glazer could transfer his debt onto the club.
If he can get to 90% plus one share, he can make a compulsory purchase and scoop up the other 10% of the club’s shares.
United’s share price rallied by 34.25 pence to 299.25p shortly after the announcement.
A fortnight ago the Manchester United board said it could not recommend Mr Glazer’s takeover proposals to shareholders because his business plan looked too "aggressive".
His first two offers were rejected by the board, on the grounds that his plans relied too heavily on borrowed money.
"A further announcement containing more detailed terms of the offer will be made shortly," Red Football said in a statement.
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That infos correct ^. Its a done deal. They will try to stop him at 75% and fight to the end but this guy it seems way too determined to get his way. The club is basically his now. The fans are pissed at the treachery of the JP and Magnier duo and say thier betrayal will be remembered for years, but to me that just buisness they made 70 mill i think out of the deal and lots of other profits out of the club. But Man Utd is now at Civil War a David vs Goliath battle between the fans and Glazer but Man Utd is now more or less owned by an American.
I just wanna know what he will do to win the support of the fans coz at the moment they hate his guts and are rallying to cause all sorts of disruption for his future plans. He better offer a big transfer budget or something to win some sort of respect.
For a guy to be that determined to buy the club against the will of the fans and putting the club in debt 5 times that of Leeds Utd a while back he must have some big buisness plans or is one crazy son of a bitch.
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Nick Towle, chairman of fans' pressure group, Shareholders United, claimed he has ripped up his season ticket.
He said: "I am very sad - I still love the club but I refuse to put a penny into the company. And I believe as many as 20,000 fans may also leave Man Utd."
Doesn't this just mean that 20,000 other fans will get their season tickets?
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Nick Towle, chairman of fans' pressure group, Shareholders United, claimed he has ripped up his season ticket.
He said: "I am very sad - I still love the club but I refuse to put a penny into the company. And I believe as many as 20,000 fans may also leave Man Utd."
Doesn't this just mean that 20,000 other fans will get their season tickets?
Yep youre right, theres a lot fans that have been waiting to get thier tickets.
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so then this will go un-noticed?
does glazer care which set of 20000 fans he gets?
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Great day
Stuart Pearce City Manager
Glazers got United
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Great day
Stuart Pearce City Manager
Glazers got United
i think he will make a good manager
a good strong no-bullshit gaffer that you would be shit-scared of is a good thing i.m.o.
stuart pearce can be everything graeme souness tries to be...and he may actually win a few things for his club too!
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(http://www.fantasyfootie.com/images/misc/souness.jpg):monkey_piss:
souness has fucked newcastle good and proper; he better get replaced before nxt season starts or it will be the same position again or worse for the toon army...
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"if i don't get the financial backing to take this club forward then i'll walk! There's only so much i can do!!"
he says with one of the top 6/7 squads in the league!!
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(http://news.bbc.co.uk/media/images/41140000/jpg/_41140033_staduimflag.jpg)
fingers crossed ;D
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(http://news.bbc.co.uk/media/images/41140000/jpg/_41140033_staduimflag.jpg)
fingers crossed ;D
;D Nice 1
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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.
After taking control earlier on Thursday, the American has paid 300p per share to Dobson, according to a statement released on the Regulatory News Service.
The developments mean he owns a definite 63.25 percent of United, although reports are suggesting that the actual figure could now be nudging 70 percent.
Some sources are indicating that the 75 percent threshold could even be breached within 24 hours, although it may take a little longer before the Tampa Bay Buccaneers owner gets his way.
Glazer has overall control, in any case, and could make sweeping changes within 60 days - including alterations to the current board.
United supporters are planning to protest at Old Trafford on Thursday evening as they continue to fight the takeover.
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lol A load of Rags are on the phone in Radio wanting Mick Hucknal and wait for it
Ealmon Holmes to buy a load of shares to try and stop him ;D
Thick fuckers
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(http://img.photobucket.com/albums/v179/wiacf/unitedkit.gif)
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lol
man.......
it'll be interesting to see how this turns out..
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(http://img.photobucket.com/albums/v179/wiacf/unitedkit.gif)
I love it 8)
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Prospective Manchester United owner Malcolm Glazer has vowed to keep contract-stalling defender Rio Ferdinand at the club. (The Sun)
Glazer also wants manager Sir Alex Ferguson to stay on for another five years with a £100m transfer budget. (Daily Express, Daily Star)
The American tycoon also wants Manchester United chief executive David Gill to continue in his job. (Daily Express, The Guardian)
But Ferguson is set to hold crisis talks with Manchester United chief executive David Gill after Malcolm Glazer's takeover bid. (Daily Mirror)
Meanwhile, Glazer's sister Maria Shapiro warns Sir Alex Ferguson - "This Sir Ferguson will do Malcolm's bidding or he won't be managing the team." (Daily Mail)
The father of Nigerian midfielder and Manchester United target John Obi Mikel have accused the Old Trafford club of bullying his son into signing for them. (The Sun)
http://news.bbc.co.uk/sport1/hi/football/4542851.stm
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Mixed Glazer messages from Tampa
What is being said in the United States about the Glazer takeover.
Manchester United fans have had mixed messages over what to expect from new majority shareholder Malcolm Glazer.
The owner of the Tampa Bay Buccaneers won control at Old Trafford on Thursday amid protests from supporters.
Carl Cronan of the Tampa Bay Business Journal, who reports on Glazer, said his reputation was to put up prices and bringing in corporate sponsorship.
But Bruce Allen, general manager of the 2003 Super Bowl winners, claimed the Glazer family had been "fantastic".
Allen told the Tampa Bay Tribune: "From our perspective, when the Glazers took over the Buccaneers, the steps they've done have been fantastic.
"They've made it a successful franchise on and off the field with everything they do for the franchise and the employees.
"They made one of the boldest moves in sports by trading for a coach and winning a Super Bowl. That's the message the Glazers sent."
Asked why the Glazers have so far made no attempt to alleviate the fears of United supporters, Allen replied: "They've handled many successful businesses, and they'll handle it the right way. What they've done speaks for itself."
But Cronan, who has reported on Glazer since he bought the Buccaneers, told BBC Radio Five Live: "Fans can see how badly they might be affected from his reputation at Tampa.
"They can depend on ticket prices going up and more corporate sponsorship."
Angry fans staged vehement protests around Old Trafford on Thursday as news of Glazer's takeover bid emerged.
Fans react to Glazer bid
Glazer bought the Buccanners in 1995 for £125m and the billionaire was feted after he led the club to the highest prize in American football, the Super Bowl in 2003.
But Cronan revealed that, despite bringing success to the Florida team, Bucs followers have mixed feelings about Glazer.
"He is not very visible or friendly towards fans," Cronan said.
"You may see him on occasion on the sidelines on game day but he does not grant interviews and rarely gets involved in any public activities in Tampa.
Man Utd fans' protest in pictures
"But on the other hand fans certainly give him a lot of credit because he did get the money in place to do the things that needed to be done to help win the Super Bowl."
Manchester United shareholders had initially been hesitant about selling to Glazer because his plans relied heavily on borrowed money.
And Cronan said there are already fears in Tampa Bay that the 76-year-old may have to sell the Buccaneers to raise extra funds for his planned takeover at Old Trafford.
"The speculation here is that he can own one or the other but not both," said Cronan.
"If he is absolutely serious about buying Manchester United it appears he is going to have to sell the Buccaneers.
"But Glazer's sons have pledged not to sell the team."
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update
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Malcolm Glazer is within a whisker of taking control of Manchester United, and now owns 74.81% of the club.
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can't we round 74.81 to 75 ;D