Glazer's bid 'close to collapse'

October 14, 2004

Malcolm Glazer's bid to takeover Manchester United was reportedly on the brink of collapse today following a fall in the club's share prices.

The US Tycoon, who currently owns 19 per cent of shares, was in discussions with Irish racing duo JP Magnier and JP McManus to buy out the duo's 28.9 per cent, according to Reuters.

However, a dramatic four per cent fall in United's share price sparked rumours that talks had collapsed.

The news will boost United supporter groups who are already pitted in battle to prevent any potential takeover due to fears that Glazer would debt-finance the purchase against future profits.

Reds shares later rallied to being only 0.6 per down on their earlier price.

Relieved, or too early to say? have your say

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Derrick, Bournemouth (14/10/2004 at 17:00)

The drop in the share price is likely to be the effect, not the cause of the Glazer withdrawl, if true.

We must now hope for a share price collapse [even though I am a small shareholder myself!] to burn the fingers of Glazer and the other speculators to deter others in the future.

For us fans, if the price falls we need to be in there buying, ideally through Shareholders United, to take the opportunity to increase the fan's say in what happens in the future.

stu, london (14/10/2004 at 17:17)

I echo Derrick's sentiments. I hold shares but I WANT them to fall at the moment to scare off any other profit-hungry, football-ignoramus americans. And when they fall I'll buy more - if everyone does this there is no reason why the fans themselves, preferably through SU, can't BE the majority owners of the club. If we held 50% of the shares through SU there is no possible way anyone could buy the club without OUR say so. Imagine that! Of course, there's no way can the fans afford that, but even a 20% share in the club would give us a massive voice.

Big Bird, Salford (14/10/2004 at 17:56)

Good posts from Derrick and stu, but lads if this is true then off course the news has to welcomed. Some questions need now to clarified by the board, namely what part was played by the directors, were they behind the bid and in future, are they now admitting they`re looking suitors for the club?

colin, canada (15/10/2004 at 01:30)

So with the club valued at approx 700 million; 20% would be 140 million. Wow. We'd better get started soon and what about the PLC and our board of directors? What are we going to do about them?What are we going to do about the two Irishmen who don't give a toss about United?
I think we should stick to supporting our manager and players. Glazer and the two irishmen will be gone soon and good riddance. Then we'll just have the PLC to get mad at. The reality is that we're not a very good team right now and are at least two good players away from being a contender. We have to get rid of some dead wood and this may be Fergie's last season. Better times are ahead. Cheers.

Rob, Brussels (15/10/2004 at 08:15)

Totally support the previous two posts; its critical to keep the momentum going on this and make sure we are all aware of the influence we can bring to bear with a significant holding in the club, ie 20-25%

jeffrey torkington, hampshire (15/10/2004 at 09:15)

isnt it funny, but last year there was uproar from the united fans about the two Irish chaps who wanted to buy the club.
Now because they won't sell their shares they are heroes!!
how fickle united fans are......

MattyM, Bitter and proud (15/10/2004 at 09:52)

Now that the dust is settled, I would like to know what is going to happen to those yobs who invaded the pitch at Moss Lane who were to ashamed to show their faces, and couldn't even set fire to a flag! I thought this was an offence (apart from at Villa Park of course, when nited fans are positively encouraged to do it). I suppose they were just peacefully escorted back to their seats. As usual it's one rule for you...

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