Glazer rumours met with anger

14 April 2012

News of yet another potential takeover of Manchester United has been met by anger amongst the club's supporters.

American sports entrepreneur Malcolm Glazer was reported over the weekend to be preparing a bid to buy the 28.9percent stake of the club owned by Irish racing moguls John Magnier and JP McManus.

Glazer, the multi-millionaire owner of the Tampa Bay Buccaneers, is United's second largest shareholder with a 19.2percent stake. Glazer would be forced to launch a full takeover bid if he was to buy enough of the holding of Cubic Expression, the investment vehicle of Magnier and McManus, to take him past the 30percent mark.

The latest reports have been greeted with dismay by fans so soon after the off-field battle between manager Sir Alex Ferguson and Magnier and McManus that occupied much of last season.

"We are a solvent football club and the finances are well kept," said Mark Longden, chairman of the Independent Manchester United Supporters' Association.

"If he takes over we are saddled with his debts and fans are very wary of someone who comes in with no interest in football and could make money by fleecing them."

Longden indicated that fans would protest in the hope of blocking any potential takeover and he encouraged more supporters to join Shareholders United, the independent group for fans with shares.

Longden added: "Shareholders United are encouraging fans to buy shares. If they can get up to 10percent plus one share there is enough people to block a takeover bid.

"We are dealing with this by political means. We have friends in political office and there are also other means of protest."

Glazer has steadily increased his stake over the past year, but with a reputation for being reclusive, his motives have been shrouded in secrecy.