Glazer did it!

[a4l]

OMG Glazer (Tampa Bay) managed to secure 62% of Man U. I can hear the fans going insane from here.

http://news.bbc.co.uk/2/hi/business/4540939.stm

[KB in Kelowna]

The shape of things to come? Next he'll move them from Old Trafford or something whacky, sell the land for redevelopment as Condos or soemthing ridiculous to finance his debt. I haven't followed the story that closely, but didn't Rupert Murdoch own a piece? I also know that the NFL has restrictions on the outside interests of its owners, I wonder how this rule applies in the case of overseas interests?

[J.R.]

:curse:

Sooner or later, sooner or later.

There have been too many reports recently, I just knew it would be a matter of time.

:mad:

[a4l]

I have spoken to a couple of buddies (Man U fans) in England and they are ripping mad. There is some talk of a boycott again. :conspire:

[a4l]

It ius getting worse. He has 74.81%, all he needs is 75% and he can make it go private (it is the only EPL team listed on the London stock exchange). The fans own about 18% of the club and are fighting this tooth and nail. Fans are already planning to boycott the superstore and are vowing not to buy any of their merchandise.
Believe it or not the ticket prices at OT are among the lowest in England but there is talk that Glazer will hike the prices to make them more in line with the rest of the teams. He just doesn't understand Man Utd. and their fans. He is ripping their hearts out. Can I say bastard on this forum?

As much as I hate Man U., if I had the money I would buy as many shares as I could. From what I hear he is going to have his sons running Man U while he runs T Bay.

[Canucklehead]

He's got his 75% :(

Glazer about to take charge


American billionaire Malcolm Glazer is set to take complete control of Manchester United by increasing his stake in the world's richest soccer club past the 75 per cent threshold.

British news reports said the owner of the NFL's Tampa Bay Buccaneers bought more shares in early trading to bring his ownership level to 75.8 per cent. There was no immediate official confirmation to the Stock Exchange.

With 75 per cent, Glazer can place his personal debt on United's books and look toward removing the club from the stock exchange and take it private.

By the close of trading Friday, Glazer's Red Football Ltd. owned 74.81 per cent of the stocks.

Glazer told the stock exchange he would borrow STG265 million ($A645.87 million) to fund the STG790.3 million ($A1.93 billion) takeover.

Glazer said the bid also included STG272 million ($A662.93 million) of his own money, and another STG275 million ($A670.24 million) to be generated by issuing preferred securities to large investors.

Glazer's ownership reached 56.9 per cent on Thursday after he bought out joint majority shareholders J.P. McManus and John Magnier, Irish racehorse owners. He previously owned 28.1 per cent of the club.

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.

The fan group Shareholders United is calling for a boycott of Man United sponsors, and is planning demonstrations at the FA Cup final against Arsenal on Saturday.

"We won't do anything that endangers safety, but they may have to draft in the army to police the match," said Oliver Houston, a vice chairman of Shareholders United.

Several Manchester United fans were arrested on Sunday in the season-ending 2-1 victory at Southampton. When fans attempted to make their way on to the field, police moved in to make arrests.

[Amoroq]

:curse:

Sooner or later, sooner or later.

There have been too many reports recently, I just knew it would be a matter of time.

:mad:Must be the same blood that runs thru MLSE ;)

[Amoroq]

English soccer fans are outraged that American Malcom Glazer has taken over control of Manchester United, the world's richest soccer club.

No Wonder!

This is the biggest selloff of British assets since U.S. President George W. Bush bought their Prime Minister.

Yuk Yuk Yuk

Thanks for the laugh Bill Lankhox, Toronto Sun :) :laughing:

[a4l]

He has enough shares that he can now transfer his debt to the team. This is why people are upset plus he can sell Old Trafford.