Glazer breaks 75% barrier

May 16, 2005

MALCOLM Glazer has gone through the crucial 75 per cent barrier which will allow the American to take Manchester United off the Stock Exchange.

Sources close to the Glazer camp have confirmed the American tycoon has increased his stake from the 74.81% he held on Friday evening, although precise confirmation of his exact shareholding will not be made until later this afternoon after the stock market has closed.

Leading brokers Teather and Greenwood are continuing to purchase stock on behalf of the Tampa Bay Buccaneeers owner and the race is on to reach the 90% mark that would force a compulsory purchase of the remaining shares.

The American business tycoon has already pledged to delist United 'not less than 20 days' after he reached the 75% mark.

Glazer is expected to outline his plans in an official offer document to be released on Wednesday.

United fans, who have campaigned so vigorously against Glazer over the past few months, have been fighting a losing battle since Thursday, when it was confirmed Glazer had snared the 28.9% stake of Irish racing duo John Magnier and JP McManus.

So far, the American has failed to make any public statement over his business plan, which Red Devils chief executive David Gill has consistently described as 'aggressive'.

Gill could yet find himself in the extraordinary position of delivering Glazer's aims following Friday's statement by his son Joel that the 'intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success'.

Sir Alex Ferguson's position is also not thought to be under threat, a move the Glazer camp hopes will appease the less militant members of United's support.

It has been claimed Glazer will need to treble current profits just to service interest payments on the '540million borrowings he has needed to take on to complete his '790million purchase.

The figures have caused consternation among some Red Devils fans, although others believe Glazer should be allowed to put his plans into action.

For Shareholders United and the Independent Manchester United Supporters Association, time is not something they are prepared to offer Glazer.

It has already been confirmed that a meeting of some fans' groups will be held in Manchester tomorrow to take the first steps towards establishing a breakaway club, while IMUSA have outlined the initial plans for what they hope will be a mass demonstration at this weekend's FA Cup final.

'We are calling on all supporters to wear black in Cardiff on Saturday,' said IMUSA spokesman Mark Longden.

'If they can get hold of black flags, they should wave them because it represents what is happening to the club.

'In addition, people should decline to renew their season tickets and memberships and cancel subscriptions to MUTV.

'We would also urge them to boycott the products of sponsors such as Vodafone, Nike, Budweiser and Audi and explain to those companies why.'

What is your verdict on Glazer passing the 75 per cent barrier? Have your say.

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prestwich red, prestwich (16/05/2005 at 11:14)

murdoch had the money.they did,nt want him, glazier got no money.weve.got him.all this talk about, stopping using sponsor products, shirts,etc,this will mean he will have to make cutmakes,and this will harm utd,if we can,t compete at the top we will end up like leeds, and it won,t be his fault . it will be the fault of the fans who think they own the club,have you all got akey to the front door,do you go down to cut the grass, if you can get throuh munich, the o,farrell era and relegation,we will get thru this. but you probily we,re supporting the reds then.

Mary, Sale (16/05/2005 at 11:43)

At last he now has the club,dont get the idea he has no money he is a billionaire ,but its good buisness to have a mortgage on your property big tax credits.
So I for one wish him all the best and things can only get better.

Mark, Paris (16/05/2005 at 11:48)

Prestwich Red the bottom line is that Glazer cannot afford the club and his stewardship is doomed to failure because any profits we will make will barely cover the interest payments on his loan. So if actions such as boycotting merchandising can speed up his departure, then it's gotta be good. This is grave people, very grave.

The Professor, Wirral (16/05/2005 at 11:55)

The club now belongs to Glazer and unless you have sufficient funds down the back of your sofa to buy him out, I suggest that we all give the man the opportunity to develop his plans for the club without hindrance. To those who advocate boycotts or protests, be assured that any long-term harm would be to the club rather than Glazer and, despite his ownership, the two are not synonymous in this respect. First of all, the likelihood is that Glazer would ride out the storm and all that would result would be the club becoming a laughing-stock amongst rival supporters and any section of the media that decides to take a swipe. Secondly, even if the protests/boycotts were somehow to achieve their stated aim and Glazer decided to sell, the reality is that he would not be substantially harmed by it but the club would face ruin. The reason for this is that if it transpired to him that a retreat was the only option, you can be damn sure that he would squeeze every cent out of the club's assets (including selling the stadium, the team and Carrington training facility) prior to his departure to minimize his loss. Once the sale is complete, Glazer would walk away without too much of a dent in his 1 billion dollar fortune and the club would be crippled. For those who advocate boycotts/protests to think that at the end of Glazer's tenure Utd would be in a similar condition to which it was last week is nothing short of staggering naivety. As a final note, I would also ask the members of the Manchester Education Committee to bear in mind that the Government now takes a very hard line with acts of violence and intimidation that can be classed as terrorism. Whereas you may feel empowered behind your balaclavas, I can assure you that a rude awakening to the sight of the barrel of a Heckler & Koch brandished by a dozen armed police raiding your home at 4am may give you pause to reconsider..........

Anthony, Hamilton, Ontario (16/05/2005 at 12:13)

I do not have enough knowledge to talk about big finances or takeovers, etc., but I only hope is that nothing should be dine without common sense and harm a club with such a big tradition. And I also believe that should this termoil continue, it might disrupt players who want to stay or come over to United. And in the end, WHO, REALLY, GETS HURT?

fred te red, manchester (16/05/2005 at 12:19)

If you are not happy then leave! That is your individual choice but please think for yourself. If you decide you can no longer support this club then return your Cup Final ticket, if you have one, and do not come to the ground again. I respect your decision and applaud the stance you take, However do not interfere with my choice to continue to support my team. This is now Glazer's club whether we like it or not, he alone will call the shots. Support or leave, the choice is quite clear. I have already renewed my season ticket and I can't wait for the new season. He has demonstrated he has a cast iron will to succeed, that will do for me. I wish him and United every success. All those supporters of opposition clubs might not be laughing at the end of the day. Time will tell.

Phil, Derry, N. Ireland (16/05/2005 at 12:23)

To all those who are considering the FC United idea, what is it they call those people who desert a sinking ship? And we don't even know yet if our ship is sinking. Fair enough a big fat guy with loads of baggage just got on board and it's looking a bit shakey right now, but it might still float. Man United fans must stand by the club and hope that it can survive. I don't understand how any supporter can stand by and hope that the club goes under. The reason people, including me, were against the takeover is because of the debt involved, not because Glazer is only in it for the money. M&M before him were only in it for the money, Harry Dobson was only in it for the money, the vast majority of shareholders were only in it for the money. The problem now is, people have allowed this fight to become against Malcolm Glazer personally. As I said, he is no different from the passionless money men that the ones who were there before. If the minority groups are going to leave United just because there is a different owner, that's their decision, but if so, then please leave the old United to survive without them. Trying to bring down the club now is just spiteful and done out of hatred of Glazer rather than love of United. I may not like Glazer, but I'd rather see United successful under his control than die.

rocco, gibraltar (16/05/2005 at 12:23)

shame these things aren't decided by referees. wouldn't be any problem then. yeeeehhhhaaawwwwww!!

Kiddi, Iceland (16/05/2005 at 12:25)

IB4m a member of Shareholders United and bought a share in Man.Utd Plc to support the fight against Glazers takeover. I support SU in trying to stop Glazer from gaining 90% of the shares. BUT I DO NOT SUPPORT ANY SABOTAGE PLANS OR ACTIONS AIMED AT MAN.UTD FOOTBALL CLUP, EVEN IF THE GLAZER FAMILY WOULD OWN THE CLUP 100%.

blue balls, mcr (16/05/2005 at 12:45)

quality, i hope he ruins the rags ha ha ha ha

Mave, London (16/05/2005 at 12:47)

Tony does what americans tells him.
Manchester will do what americans tell it.
What next??

Moby, Birmingham (16/05/2005 at 13:08)

United not for sale??? It's been for sale for the last 14 years and where were all these so called militant hard lined campainers then, It's been ok reaping the rewards and collecting cash for the last decade but now the club is in sole control all the United fans are papping their pants crawling out the woodwork screamimg assult and generally becoming a joke to the rest of the league, it's pityful, embarrasing and down right hilarious when you think about it.

Tim, Work (16/05/2005 at 13:30)

Prestwich Red - have you not learnt how to write in English yet???

Obviously not...........

Declan, Dublin (16/05/2005 at 13:36)

I say well done glazer. sell everthing make your money and get out after all its not really football its business.

moonchester, blue moon (16/05/2005 at 13:47)

I think i look good in my new nike's driving my audi whilst on my vodafone,booking my new subscription to mutv ,the new shopping channel.

This should not worry you lot you'll all be Chelsea fans next year.

Alias Smith, over the moon (16/05/2005 at 13:57)

Moonchester, at least you'll save a few quid to spend on Nikes, seeing as you haven't got to get a passport again this year....

Lee, from London (16/05/2005 at 14:08)

It seems to me that as Man U fan's you need to re-focus your hatred towards the board that sold you down the river in the first place.
The likes of John Magnier and JP McManus & all the other money men that were associated to your club, now would appear to have only their own nests to feather (as all money do) & that's without this sell-out.
How much have they been paying themselves in share dividends & sweeteners?
If not plans would have been set in motion a long time ago for this eventuality.
As most football supporter I'm sorry for your plight, & hope any other profit making club works towards a better solution for their supporters.
But for my part I can't understand if it's that easy to finance B#790million take-over, why this it not done years ago.
One other thing although it's a possibility I really can't see this man (Glazer) opting to take your club to the wall with debt, because the last thing he needs is a loss of revenue coming onto the clubs book's.
I'm sure he is more business like then that, otherwise he would never have got the Banks backing in the first place.
Although I do see not too much investment in the short term but long term who knows you could end up a even bigger club.
Although for my part I think he will get the debt paid off & sell ASAP, cos he's not getting any younger is he.
One last point to fund his endeavours I can see you Man U fan's having to pay same for your weekly tickets as us put upon supports down south.

D Vader, A galaxy far far away (16/05/2005 at 14:55)

Suddenly, B#62m in debt doesn't seem like much.

Rags, London (16/05/2005 at 15:05)

Typical . . . . . can't even let us have the biggest debt title can you?

extaggartfan, worsley (16/05/2005 at 15:20)

well if you lot that call yourself supporters do leave a sinking ship at least ther'll be a bit more room on the m6 on a saturday.

fred the red, Manchester (16/05/2005 at 15:29)

I have the utmost respect for anyone who overcomes terrible circumstances to achieve success. This guy Glazer was 15 years old when he took over his Father's company after he died. He had only $300 and look where he is now! Oh I forgot! This is England isn't it? We love losers don't we? Heaven forbid anyone should ever make money and rise above their station. This man has shown a steeliness in his attitude to acquire the club. Can't that same resolve ensure our success? Does anyone truly believe this man has invested B#275m of his families money just for it all to go belly up? We have been hearing for two years now that he will never gain control of Manchester United. Where are those people now?

Ricky, Birmingham (16/05/2005 at 15:48)

Ok i have to write something now we need to all relax calm down, all weekend i have been watching and reading about what is going to happen and what may happen. I am very upset to hear the SHU are thinking very childish. From what i have read some people are either against him or some people want to do the sensible thing and wait and see policy. One thing is for sure we must unite and give the guy a chance judge him on performance. We can not blame anyone for this but the origins of the situation. You must admit it that we were open to offers for the last 14 years. So now we have been lumbered with a massive debt but if we do not allow the smooth running of the buisness we will be in trouble. If this guy turns this club around and makes us the biggest club what would SHU say about that. But if we do collapse we need to start from scatch all over again. We need to stay United.

jumpers for goal posts, Didsbury (16/05/2005 at 16:07)

What makes me chuckle is the fact that the rags seem to think this is a bad idea and that it'll effct them somehow - well sorry rags but it won't effct you one jot - Glazer unfortunately will make the rags bigger than they are now even with Taggart on board

Bob Schlesinger, Leeds (16/05/2005 at 16:15)

Go ahead. Get him really mad.

He can sell the real estate, move the team which would be welcome anywhere in the world.

Then, maybe Manchester can get a franchise in the North American Soccer League.

The Professor, Wirral (16/05/2005 at 16:20)

Fred the Red - excellent comments, good to see that there's still a lot of common sense around amongst fellow fans.

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