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16/05/2005
Glazer secures control of Manchester United
US sports tycoon Malcolm Glazer has secured sufficient shares in Manchester United to give him control of the club.
While confirmation on the exact quantity of shares in Manchester United will not be made until after the close of dealing on the London Stock Exchange, to force the compulsory purchase of the remaining shares, Glazer must exceed a 90% stake.
It is understood that he has achieved a 75% holding that would force the club's de-listing from the stock exchange.
Last week Glazer’s stockholding company Red Football Limited secured the 28.7% stake held by Cubic Expression Company Limited, which represented the interests of Irish tycoons JP MacManus and John Magnier. That deal gave Mr Glazer a 56.9% share of the premiership football club.
Fans have already protested during the weekend match with Southampton over fears that it could mean higher ticket prices for games and increased merchandising costs.
Minority shareholders in Man United, fan-based Shareholders United, which owns 17% of the club has attempted to block the bid.
Premier League bosses played down as "almost impossible" speculation that Mr Glazer may try to break Manchester United out of the Premiership's collective deal on TV rights.
(SP/MB)
While confirmation on the exact quantity of shares in Manchester United will not be made until after the close of dealing on the London Stock Exchange, to force the compulsory purchase of the remaining shares, Glazer must exceed a 90% stake.
It is understood that he has achieved a 75% holding that would force the club's de-listing from the stock exchange.
Last week Glazer’s stockholding company Red Football Limited secured the 28.7% stake held by Cubic Expression Company Limited, which represented the interests of Irish tycoons JP MacManus and John Magnier. That deal gave Mr Glazer a 56.9% share of the premiership football club.
Fans have already protested during the weekend match with Southampton over fears that it could mean higher ticket prices for games and increased merchandising costs.
Minority shareholders in Man United, fan-based Shareholders United, which owns 17% of the club has attempted to block the bid.
Premier League bosses played down as "almost impossible" speculation that Mr Glazer may try to break Manchester United out of the Premiership's collective deal on TV rights.
(SP/MB)
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13 May 2005
US tycoon’s bid secures control of Man United
A £790 million takeover bid has given control of Manchester United to US sports tycoon Malcolm Glazer. Glazer’s stockholding company Red Football Limited has secured the 28.7% stake held by Cubic Expression Company Limited which represents the interests of Irish tycoons JP MacManus and John Magnier. The bid will give Mr Glazer a 56.
US tycoon’s bid secures control of Man United
A £790 million takeover bid has given control of Manchester United to US sports tycoon Malcolm Glazer. Glazer’s stockholding company Red Football Limited has secured the 28.7% stake held by Cubic Expression Company Limited which represents the interests of Irish tycoons JP MacManus and John Magnier. The bid will give Mr Glazer a 56.
07 June 2005
Glazer’s sons take positions on Man Utd board
Malcolm Glazer’s three sons have been appointed posts on the board of Manchester United football club. It was announced that Joel, Avram and Bryan Glazer would take up posts as non-executive directors on the board, as the non-executive chairman Sir Roy Gardener confirmed that he would be resigning from his post.
Glazer’s sons take positions on Man Utd board
Malcolm Glazer’s three sons have been appointed posts on the board of Manchester United football club. It was announced that Joel, Avram and Bryan Glazer would take up posts as non-executive directors on the board, as the non-executive chairman Sir Roy Gardener confirmed that he would be resigning from his post.
28 June 2005
Glazer gains 98% of Manchester United shares
American tycoon Malcolm Glazer has confirmed that he has acquired 98% of shares in Premiership football club Manchester United. Mr Glazer needed to have 97.6% ownership of the club in order to be able to force the remaining shareholders to sell their shares to him. He will now be able to force a compulsory buyout of the remaining shareholders.
Glazer gains 98% of Manchester United shares
American tycoon Malcolm Glazer has confirmed that he has acquired 98% of shares in Premiership football club Manchester United. Mr Glazer needed to have 97.6% ownership of the club in order to be able to force the remaining shareholders to sell their shares to him. He will now be able to force a compulsory buyout of the remaining shareholders.
30 June 2005
Glazers return to Old Trafford
Malcolm Glazer’s three sons have reportedly returned to Old Trafford, a day after they were forced to leave in a police van, following protests by angry Manchester United fans. Joel, Avi and Bryan, were reported to have continued their first tour of the ground today and met with Sir Bobby Charlton.
Glazers return to Old Trafford
Malcolm Glazer’s three sons have reportedly returned to Old Trafford, a day after they were forced to leave in a police van, following protests by angry Manchester United fans. Joel, Avi and Bryan, were reported to have continued their first tour of the ground today and met with Sir Bobby Charlton.
25 October 2004
Man Utd 'terminate' talks with US tycoon
Manchester United has terminated talks with Malcolm Glazer after the US billionaire upped his stake in the club last week. In a statement, the board said that it regarded Mr Glazer's position to be "overly leveraged" – or too dependent on borrowed money – and so it was "not in the best interests of the company" to continue talks.
Man Utd 'terminate' talks with US tycoon
Manchester United has terminated talks with Malcolm Glazer after the US billionaire upped his stake in the club last week. In a statement, the board said that it regarded Mr Glazer's position to be "overly leveraged" – or too dependent on borrowed money – and so it was "not in the best interests of the company" to continue talks.
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