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Thread: Glazer wins control of Man United

  1. #1
    C'mon Without Cmon Within QuinntheEskimo's Avatar
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    Glazer wins control of Man United

    I'm Loving this, our friends across the pond have their panties in a wad b/c a Yank has taken over their version of the NY Yankess... Dont worry hooligans- Glazer has no plans on putting a corporate tag on Old Trafford or shall we say Home Depot's Old Trafford!

    I dont see what the problem is- when he bought the Bucs- they were worth $150 million, Today they are worth more then $755 million...
    Boycott the games, wear black to the games- whatever- you guys cant live without your football and it too will soon pass...

    from the BBC News

    Glazer wins control of Man United
    US sports tycoon Malcolm Glazer has won control of Manchester United in a 790m ($1.47bn) takeover bid.
    The American has secured the 28.7% stake owned by Irish racing tycoons JP McManus and John Magnier, and now has more than 70% of the Premiership club.

    Red Football Ltd, acting on behalf of Mr Glazer, said the Irishmen had sold their stakes for 300p a share.

    Club fans have vehemently opposed Mr Glazer's ambition all along and fear that ticket prices will soar.

    The bid comes five days ahead of the 17 May deadline when Mr Glazer had to make known whether he planned to bid.

    'Aggressive'

    Mr Glazer now wants to buy the rest of the club's shares. If he gets 75% plus one share, United could be delisted from the stock exchange and Mr Glazer could transfer his debt onto the club.

    If he can get 90% plus one share, he can make a compulsory purchase and scoop up the other 10% of the club's shares.

    With heavy trading in Manchester United shares taking place after the announcement, it is already looking increasingly likely that Mr Glazer will quickly reach the 90.01% stake he needs to force out any remaining shareholders.

    United's third-biggest shareholder Scottish mining millionaire Harry Dobson is already reported to have sold his 6.45% stake after the Irishmen sold theirs.

    Shares in Manchester United closed up 34.25 pence, or 12.92%, at 299.25p on Thursday.

    Constitutional Affairs Minister Harriet Harman said the government had urged Mr Glazer to have talks with fans, the Football Association and the club in order to ensure there was "constructive involvement".

    She told BBC One's Question Time: "Manchester United is very important to English football and the government is keeping a very close eye on the situation.

    "The fans are very worried and obviously there is concern that ticket prices will go up and that there won't be investment in the players."

    'Damaging'

    Mr Glazer first showed an interest in buying the club last autumn and tabled a formal proposal in October, which was rejected by the board.

    The owner of the Tampa Bay Buccaneers is thought to be keen to exploit the strength of the Manchester United brand in the US.

    Two weeks ago, the club board said it could not recommend Mr Glazer's second takeover proposal to shareholders because his business plan appeared to be too "aggressive".

    His offers were rejected on the grounds that his plans relied too heavily on borrowed money.

    The club's chief executive David Gill said Mr Glazer's business plan was "potentially damaging" to the club amid fears that the American could saddle it with up to 300m worth of debt.

    However, members of the board did agree that some shareholders might think the offer was a good one.

    Outrage

    Manchester United fans are angry at the latest news. Last year, they formed a shareholders' association to buy club shares and try to protect it from Mr Glazer's clutches.

    A spokesman for Shareholders United, which represents 17% of the club's shareholders, told the BBC that Mr Glazer was "no Roman Abramovich".

    "He's not turning up with a suitcase full of his own cash and he is, in effect, asking Manchester United fans to pay for his takeover, to pay for increased ticket prices and increased merchandising," said spokesman Oliver Houston.

    "We feel completely betrayed by John Magnier and JP McManus."

    The Irishmen are estimated to have made a 70m profit from their stake.

    A spokesman for the duo said: "They saw it as an investment. They got a very good deal."

    'Game over'

    I'm giving up my season ticket," said Shareholders United president Nick Towle.

    "I'm not putting a penny of my money into this guy's pocket."

    Mr Towle said Shareholders United still hoped to stop the tycoon getting a 75% stake.

    "If we can get to that 25% of the remaining shareholders, that would be great," Mr Towle added. "But it's looking like an uphill battle for us."

    Analysts are convinced that the 76-year-old is unstoppable.

    "I think it's pretty much game over now as the key to all this was always going to surround what the Irish duo would do with their stake," said Richard Hunter of stockbrokers Hargreaves Lansdown.

  2. #2
    Starbucks is your friend Bill's Avatar
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    Some of the organized anti-takeover fan groups were saying they would boycott the sponsors of the club, but why not just boycott the club is they are that upset? Oh that's right, they would have to miss a game.

    I think Glaser is over estimating the value of the Manchester United brand outside of England.
    "George Oscar Bluth II, aka GOB, featured magician in the best selling videotape, "Girls With Low Self Esteem" invites you to enter his world.
    -- Arrested Development, Season III

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    can i have your heart? unexplained's Avatar
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    As a childhood fan of Manchester United (and I didnt even grew up in Manchester or anywhere near UK), I am deeply saddened by this.
    You select the person you want to be with, and then you let that person have the opportunity to select you. -Shayla

    "The mind is its own place, and in it, self can make a Heav'n of Hell, a Hell of Heav'n." -John Milton, Paradise Lost.

  4. #4
    Starbucks is your friend Bill's Avatar
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    Well the silver lining for worried United fans is that for Glaser's marketing plan to work globally, it is a imperative that the team be top of the line, so he is going to have to spend on players.
    "George Oscar Bluth II, aka GOB, featured magician in the best selling videotape, "Girls With Low Self Esteem" invites you to enter his world.
    -- Arrested Development, Season III

  5. #5
    C'mon Without Cmon Within QuinntheEskimo's Avatar
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    If his Soccer plan is similar to his football plan it should go something like-
    1. Buy all the top players and coaches- essentailly sell your soul for the Championship.
    1a. Get everyone pyschotic over the success of the club
    2. Raise the ticket prices and dump key verteran players who are making too much money...
    3 recycle plan every 5 years (just long enough to keep the fans coming thru the turnstyles)

  6. #6
    NI FORT fan Belfastgirl's Avatar
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    In financial terms the fans worry that he is borrowing so heavily to buy the club that they are going to be saddled with astronomic debts. AND crucially, he's NOT a fan of the game, let alone the club! With EU law preventing him from negotiating TV rights as an individual club, where's all the profit needed to repay the debt going to come from. I bet he won't be at the cup final! Oh and he's providing 25 million for players! The sort of players Man U sign cost that individually!!!
    Act your age, not your shoe size!

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    Kris&Jon 4 Life Nikki_Brandon's Avatar
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    I just hope that Glazer brings about the downfall of Man Utd....
    Well, I was thinking when he said, "king of the jungle," I was, like, "Well, during the first challenge you would still be lost in the jungle if Jim and I hadn't, like, led you out. - Brooke Struck on Judd

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  8. #8
    RENThead JLuvs's Avatar
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    Quote Originally Posted by Nikki_Brandon
    I just hope that Glazer brings about the downfall of Man Utd....
    Since Man U has always been my favorite team I hope that is not the case.
    Whenever you see darkness, there is extraordinary opportunity for the light to burn brighter.
    -Bono

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