Malcolm Glazer's moving in

[jimbo]

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.

 

[jimbo]

Man U fans can look forward to the rivetting American football next season.

 

[rolfw]

A great shame, but always a problem once you go public with a company, doesn't matter if you started it, you can still be thrown out. The guy just appears to be trophy hunting and I can't see it being good for the club.

 

[john_graydon]

A great shame, but always a problem once you go public with a company, doesn't matter if you started it, you can still be thrown out. The guy just appears to be trophy hunting and I can't see it being good for the club.

Havent really taken any interest in this as I thought he wouldnt get near the shares he required. Does it not mean if he takes over that there will be more money in the kitty for players Like Red Rom. blue rom, now im getting mixed up.

 

[rolfw]

No, it means that if he can buy a certain percentage of shares he can withdraw it from public ownership and saddle it with millions of pounds worth of his debt.

 

[twag42]

the shares have gone up 13% so if he sold all his,he'd make a nice tidy sum just off that alone.but unfortunately i think the yank has other ideas and none of them in the best interests of the club.

 

[Salty25]

Glazer reminds me of the dark side in Star Wars (it is just coincodence that the 3rd Episode is coming soon!), I can hear the music (dum-da-da-dum-da-da-dum-da-da-da).

I just hope this isnt the beginning of 'franchises' in football and European sport. But, Glazer must want the club to be a success, otherwise the investment is a bad one. However, pumping up the ticket prices would not help, and turn the club elitist - surely the government and the league could intervine and cap ticket prices?

He is (apparently), up to 70% of shares, so he needs 5% more to transfer the debts occurred in the investment on to the club...

... now I know this is a bit of a strange proposition, but why dont Man U fans plead to Roman at Chelsea to buy these 5% of shares???? I know this might seem strange, but Roman has enough money that I dont think he'd care if he then transfered these to the shareholders union of fans.

 

[kleefarr]

At close of business he had 74.81%. The end is nigh. Although I do believe that it may not be a bad thing for United. why would he want to take over only to throw it all down the drain? There's too much emotion floating around and not to many people using theirs heads.

 

[twag42]

i agree,i think after watching tonights news.the Glazer take over is gonna be good for man utd,some of the over-priced players arent gonna like it.maybe itll bring the outragoeus wages down to a more realistic level.

 

[Topper]

i agree,i think after watching tonights news.the Glazer take over is gonna be good for man utd,some of the over-priced players arent gonna like it.maybe itll bring the outragoeus wages down to a more realistic level.

Let's hope so

 

[rolfw]

I cannot possibly see how it could be a good idea, it isn't only MunU who have overpaid players and if someone else is prepared to pay the going rate, then the players will leave.

For the first couple of years the club will have to service the introduced debt to the sum of nearly £500m, how can that possibly be good for the club, it will just mean that all of their efforts will be aimed at generating the required cash and not in producing a worldbeating team.

 

[T_G]

I am shocked, but just hope for the best. God knows, I worked with a few US companies in the past and one thing is for sure: They don't like loosing money and they hate bad business. As he has nothing to gain from a declining club I reckon he will try to make it work. I am not sure the present board were that great, I still would have preferred the club stayed in private hands to begin with. Maybe now it is going back to being privately owned.
I heard somewhere that the loans he took are not because he needs it but because it makes good business sense. Apparently he is not that poor himself...Got my fingers crossed it will work out good and not kill off my club and the world of football as we know it..

 

[Marts]

Would have made far more sense if he'd made a bid for a lower league club at a much lower price, and do for them what he (his money) did for Tampa Buccaneers

Sheffield Wednesday Mr Glazer pleeeeese

 

[twag42]

malcolm glazer could be the next god of old trafford!! after this season we do need a f..king miracle :-)

 

[twag42]

as for the so called fans boycotting,well go ahead and boycott,that'll free up some of the tickets that the genuine fans will be able to afford and not have to pay outrageous prices from touts to watch the reds.do the math 67,000 go to old trafford every match,theres millions more that could easily replace these people.i know for a fact that not all them sitting in the seats are the ones that got the tickets in the first place.i hope he brings back the old turnstiles,and go back to pay on admission.he'd having no problem filling the place.ticketholder or not!!

 

[gameboy]

I heard somewhere that the loans he took are not because he needs it but because it makes good business sense.

I'll try that the next time I see the bank manager...


As usual rolfw is spot on - it's a win-win for Mr Glazer he's a buisness man and that's all it is to him a business to service his debt...

_http://business.timesonline.co.uk/article/0,,9070-1611047,00.html