Malcolm Glazer, the owner of the Tampa Bay Buccaneers, has today increased his shareholding in the world’s biggest soccer club Manchester United.
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Malcolm Glazer,Tampa Bay Buccaneers Owner |
Glazer, who was already one of the club’s largest shareholders, purchased 6 million shares costing £17 million ($30 million) to take his total stake in the English giants to 27.6% of the total shares.
The move has increased speculation that he is ready to make a move to take a controlling interest in the soccer club, a move that is said to be extremely unpopular with the Manchester United supporters.
There has been no public comment from Glazer regarding his moves to increase his United shareholding and the fans of the club are questioning his motives.
In an open letter to the Manchester United Chief Executive, David Gill, an influential group of fans know as ‘Shareholders United’ have requested that Glazer make his intentions known to the London Stock Exchanges Takeover Panel.
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Manchester United's Stadium Old Trafford |
If the club wishes, the Takeover Panel could impose a deadline on Glazer making a formal bid to take over the club. If the deadline were not met then Glazer would be unable to make another bid for six months.
Mr Glazer is now within sight of the major shareholders, Irish businessmen J.P McManus and John Magnier, who own 28.9% of the club. It had been rumoured in the English press last week that the Tampa Bay owner was in negotiations with the Irishmen to buy their stake.
However, talks are thought to have broken down between the parties on Friday and it seems that Glazer may now be looking elsewhere to purchase the shares required to trigger a takeover of the biggest and richest soccer club in the world.
Copyright 2007 - MOP Squad Sports
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