Menu
28/06/2005
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.
The billionaire sports tycoon won overall control of the Premiership club in May, acquiring over 75% of the shares, following a £790 million buyout. The shares were valued at £3 each.
Last month, it was announced that Mr Glazer’s three sons – Joel, Bryan and Avi – had been appointed to positions on the Manchester United board.
Last week, Manchester United was delisted from the London Stock Exchange, after remaining on the market for 14 years.
Manchester United fans have been outraged by Mr Glazer’s takeover of the club. Many fans say that the bid, which reportedly involved a number of loans, had left the previously debt-free club with a number of debts.
The supporters group, Shareholders United, are currently attempting to establish a ‘phoenix fund’, in order to build up a “war chest” of money, which could be used to purchase any part of the club, if it was put up for sale in the future.
(KMcA/SP)
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.
The billionaire sports tycoon won overall control of the Premiership club in May, acquiring over 75% of the shares, following a £790 million buyout. The shares were valued at £3 each.
Last month, it was announced that Mr Glazer’s three sons – Joel, Bryan and Avi – had been appointed to positions on the Manchester United board.
Last week, Manchester United was delisted from the London Stock Exchange, after remaining on the market for 14 years.
Manchester United fans have been outraged by Mr Glazer’s takeover of the club. Many fans say that the bid, which reportedly involved a number of loans, had left the previously debt-free club with a number of debts.
The supporters group, Shareholders United, are currently attempting to establish a ‘phoenix fund’, in order to build up a “war chest” of money, which could be used to purchase any part of the club, if it was put up for sale in the future.
(KMcA/SP)
Related UK National News Stories
Click here for the latest headlines.
16 May 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.
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.
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.
11 March 2014
Manchester United Reveals Identity of Major Investor
The ownership of Manchester United football club becomes clearer after the Premier League club have confirmed that the identity of one of it major inverters which have a quarter of all available shares on the New York Stock. This part have been bought by the US Investment firm, Baron Capital who owns 24% of the stock a 2.5% stake in the club.
Manchester United Reveals Identity of Major Investor
The ownership of Manchester United football club becomes clearer after the Premier League club have confirmed that the identity of one of it major inverters which have a quarter of all available shares on the New York Stock. This part have been bought by the US Investment firm, Baron Capital who owns 24% of the stock a 2.5% stake in the club.
30 March 2005
Rooney assault claims dropped
The man who accused footballer Wayne Rooney of assault has dropped his claim, it has been reported. Patrick Hanrahan, a 22-year-old student from Eaglescliffe, Middlesborough, accused the England and Manchester United striker of attacking him in the Tiger Tiger nightclub in Manchester.
Rooney assault claims dropped
The man who accused footballer Wayne Rooney of assault has dropped his claim, it has been reported. Patrick Hanrahan, a 22-year-old student from Eaglescliffe, Middlesborough, accused the England and Manchester United striker of attacking him in the Tiger Tiger nightclub in Manchester.
01 December 2003
Man Utd nets £36m deal with Vodafone
Manchester United have today agreed a £36 million sponsorship deal with Vodafone – the biggest ever brokered for a premiership club.
Man Utd nets £36m deal with Vodafone
Manchester United have today agreed a £36 million sponsorship deal with Vodafone – the biggest ever brokered for a premiership club.
-
Northern Ireland WeatherThis Evening and Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most. It will turn mostly dry towards dawn, although a few patches of light rain or drizzle continuing, mainly in the southwest. Minimum temperature 5 °C.
