Manchester Utd

Manchester Utd
Glazer Bids For Man United Malcolm Glazer has formally launched a £790.3m takeover bid for Manchester United after winning the support of its biggest investors.His Red Football bid vehicle said he will pay 300p a share to acquire the 28.7% stake held by Irish racing tycoons JP McManus and John Magnier.The deal means the US sports tycoon has control of the club with a 56.9% stake. Mr Glazer needs more than 75% of shares for his offer to go forward unconditionally. Under UK business takeover rules he must now make a formal bid for the rest of United. The Old Trafford club's share price rose 13% after the latest news was announced. It comes as the team prepares to face Arsenal in the FA Cup Final in Cardiff on May 21. The board had earlier rejected Mr Glazer's takeover proposals, saying it felt they were \\"aggressive\\". As a result, the Takeover Panel set a deadline of next Tuesday for him to make a firm bid. Members of the board did agree that some shareholders might think the offer was a good one. \\"The board recognises, however, that the price of 300p per share is a fair one and may be attractive to some shareholders of Manchester United,\\" it said in a statement. Opponents of the deal - in particular the club's supporters - believe it will create too much debt. They say that the club is currently debt-free and should be kept that way - Mr Glazer's proposal is believed to involve around £300m in bank loans. The tycoon owns the Tampa Bay Buccaneers gridiron franchise and is thought to be keen on marketing the Manchester United brand more aggressively in the US. Richard Hunter, of Hargreaves Lansdown stockbrokers, said: \\"I think it's pretty much game over now. \\"The key to all this was always going to surround what the Irish duo would do with their stake.\\"

Flippin eck how much money does this man have Al? http://img.photobucket.com/albums/v302/Sir_Stanley_Bowles/zShere.bmp

Flippin eck how much money does this man have Al? More that you and me, but he is still borrowing £300m from the banks. That will mean Sir Alex will not have any money for player as the banks will alway be at the front of the que when money is doled out.

Thats a point mate I think this could be the beginning of the end for Man u if they are not carefull.Arsenal will be strong again next season and with Chelsea on the hunt for certain players looks like the title will illude them once more

furthermore
Manchester United fans are furious that US tycoon Malcolm Glazer has launched a formal takeover bid for the club. Glazer has a 57% share after securing the 28.7% stake of Irish racing tycoons JP MacManus and John Magnier. Nick Towle, chairman of fans' pressure group, Shareholders United, claimed he has ripped up his season ticket. He said: "I am very sad - I still love the club but I refuse to put a penny into the company. And I believe as many as 20,000 fans may also leave Man Utd." A protest has been hurriedly organised to take place outside Old Trafford at 1700 BST on Thursday. Fans are being urged to take with them their season-ticket renewal forms and burn them in a gesture of defiance. Supporters are concerned about the level of debt involved in Glazer's bid and fear for the club's future. Oliver Houston, vice chairman of Shareholders United, told BBC Radio Five Live that Glazer is "no Roman Abramovich". Houston predicted an entirely different scenario at United. He said: "He's not turning up with a suitcase full of his own cash. "He is, in effect, asking Manchester United fans to pay for his takeover, to pay for increased ticket prices and increased merchandising." Shareholders United, which represents 17% of the club's stockholders, still hopes to prevent Glazer reaching the 75% level of shares he needs to make his offer unconditional - and essentially own the club. But Towle admitted: "It's looking like an uphill battle for us." Fellow member of Shareholders United, Michael Crick, believes Glazer's "hard-nosed business record" spells danger. He said: "He is going to be much keener to boost profits, particularly as he's going to have to borrow so much to buy the club. "I can only see that it's the fans who are going to lose out here in a big way."

Fans keep battling against Glazer
US tycoon Malcolm Glazer is expected to spend the weekend mopping up the final few shares to seal a complete £790m ($1.5bn) takeover of Manchester United. Mr Glazer, who also owns American football team the Tampa Bay Buccaneers, secured 74.81% by Friday, but needs 75% to take United into private ownership. Angry fans were expected to demonstrate at Sunday's match at Southampton. One called Mr Glazer "thick skinned" for trying to take over a club where 93% of supporters were against him. But Mr Glazer's son Joel - who is expected to take charge of running the club - said the family wanted to ensure Manchester United continued to develop and "achieve even greater success". "Our intention is to work with the current management, players and fans," he said, hinting that they wanted United manager Sir Alex Ferguson and chief executive David Gill to stay. A London Stock Exchange spokeswoman said it was possible shares in the club could be traded over the weekend, but she said it would not be reported to the market until Monday. Fierce resistance Mr Glazer has already bought the 28.7% stake of Irish racing tycoons JP McManus and John Magnier. The sports tycoon plans to borrow £265m to fund the deal, set against the club's assets. He will raise another £275m by issuing securities but this debt will not be held against the club's assets. He will use £272m of his own cash, in the form of United equity already owned by him. Joel Glazer said: "We are delighted to make this offer to acquire one of the pre-eminent football clubs in the world. TIMELINE OF A TAKEOVER March 2003 - Glazer buys 2.9% stake in club March 2004 - Glazer says he has "no current intention" of making a bid June 2004 - Glazer's stake in club nears 20% October 2004 - United confirms bid approach from Glazer, as his stake nears 30% November 2004 - Glazer ousts three directors from United's board December 2004 -Glazer makes revised bid February 2005 - He makes new bid approach, valuing United at £800m, the club later opens its books to the tycoon 14 April 2005 - Glazer moots £800m bid for club 28 April 2005 - Takeover Panel sets 17 May deadline for Glazer to announce whether he intends to buy United 12 May 2005 - Glazer launches formal takeover bid for United after upping his stake in the club to almost 57% "We are long-term sports investors and avid Manchester United fans." The club said it would wait for the "full facts" to become available before advising shareholders whether to accept the offer. The buyout is still facing fierce resistance from United fans, who hope to put a stop to it. Supporters already own an estimated 18% of the club and have tried to secure financial backing from Japanese bank Nomura to buy more shares to block his attempt to delist the club. They have also threatened to boycott the club's money-spinning merchandise machine. Sean Bones, of Shareholders United said: "What we have to do is affect revenue streams." He added that Mr Glazer was "a thick-skinned guy to try and take over a club where 93% of the customers, the supporters of the club, are against him". Glazer's US empire They fear that under Mr Glazer's ownership ticket prices will soar, the club will be saddled with huge debts and deprived of funds to buy players. Once Mr Glazer has raised his holding to 75% or more, he can rewrite the company's articles - effectively giving him carte blanche to run the company as he wants. If he can get 90% of the stock, he can make a compulsory purchase and scoop up the other 10% of the club's shares. The government said it had urged Mr Glazer to hold talks with fans, the Football Association, and the club.

Premiership bosses back Ferguson
Fellow Premiership managers have rallied round Sir Alex Ferguson in the wake of speculation over his future at Manchester United. With American businessman Malcolm Glazer poised to take full control of United, many fear Ferguson's 18-year tenure at the club could soon be over. But Jose Mourinho, Harry Redknapp and Steve Bruce have all backed the Scot. "Anyone talking about the future of Alex Ferguson has got to be a fool," said Southampton manager Redknapp. Glazer's son Joel has made it known that they hope Ferguson will carry on in charge of team affairs and Redknapp said that to axe him would be foolish. "He (Glazer) would only think about it if he knows nothing about football," said Redknapp, whose Southampton team face United in the final game of the season on Sunday. "If they can find a better manager than Fergie anywhere then good luck to them because I wouldn't know where they'd start to look for that because that's an impossibility. He's second to none." Chelsea boss Mourinho also feels Ferguson's past achievements should be respected in the new United set-up. "If you have achieved what Alex Ferguson has, you should choose when to stop. No one should tell you," Mourinho told the Times. "He is a winner and has a history of winning." And Birmingham manager Steve Bruce, who was a former United captain under Ferguson, was also quick to back his old boss. Fans keep battling Glazer "If he (Glazer) wants the club to be successful, Sir Alex is the man for the job," said Bruce. "He might have had a poor season but he can still win the FA Cup like he did last season."

Glazer statement infuriates fans
Manchester United supporters have reacted angrily to a statement from Malcolm Glazer's son Joel saying his family are "avid United fans". Glazer now owns 74.81% of United shares and only needs 75% to delist the club from the Stock Exchange. Independent Manchester United Supporters' Association spokesman Mark Longden said: "That statement is an insult to human intelligence. "Does this guy really think anyone will actually believe him?" Longden added: "Maybe it should not be a surprise given what has gone before, but the ignorance of the Glazers about ordinary Manchester United fans is truly astonishing." Fans have vowed to continue their battle against the Glazer family, calling for a mass boycott of club merchandise and the products of major club sponsors Vodafone and Nike. "The most recent poll suggested 93% of United fans were totally opposed to Malcolm Glazer's involvement with the club," said Shareholders United vice-chairman Sean Bones. "He has to launch some kind of charm offensive and this is probably the start. "But I doubt very much anyone will be taken in by it and our fight to get rid of him continues. "We are urging all supporters to boycott any club merchandise and even refuse to buy a pint and a pie inside the ground on match days. "Sponsors' products should also be avoided and eventually we hope the message will get through. "We now know how much debt he has taken on. We know he has massive repayments to service and we are confident we can affect club turnover to such an extent it will be impossible for him to continue."

Ferguson in dark over Glazer plan
Manchester United manager Sir Alex Ferguson admits his future is unclear after US tycoon Malcolm Glazer moved closer to buying the club. Glazer has a 74.81% share in Man Utd and needs 75% to delist the club. "I always look forward, and I do so again, but we'll just have to wait and see what is going to happen," Ferguson told the Scotsman. Ferguson has been manager for 18 years and he begins a one-year rolling contract at Old Trafford in the summer. Reports on Friday suggested Ferguson's job was not under threat despite Glazer's proposed takeover. "Ferguson will be offered a long-term contract as part of a five-year plan," the Daily Express' chief football writer Harry Harris told BBC Radio Five Live. "In that plan, he will be given £100m for new players." The Manchester United manager decided not to speak to the media on Friday ahead of Sunday's Premiership match at Southampton, handing that task instead to assistant Carlos Queiroz. Ferguson, who has been at the Old Trafford helm for more than 18 years, will begin a one-year rolling contract this summer. However, Glazer is reported to be keen for the Scottish manager to oversee football affairs during what is set to be a difficult period of transition off the field. Harris' reports on the saga over recent months appear to have been reliable, although nobody from the Glazer camp has commented about their future intentions for the team. The American tycoon is certain to shake up the boardroom, casting uncertainty over the future of chief executive David Gill. Gill, who took over from Peter Kenyon in September 2003, recently referred to Glazer's takeover plan as "potentially damaging". Harris insisted that Gill's position would also be safe for now, although BBC business editor Jeff Randall disagrees and predicts changes in the boardroom fairly swiftly. Harris said: "David Gill will be kept in place as they (the Glazers) have complete confidence in the management team. "But the non-executive directors will be sacked while Joel and Avi Glazer will join the board." The Guardian newspaper also reports that Gill is expected to continue in the same position at Old Trafford. But Malcolm Glazer's son Joel is expected to have a "active" role once he takes his place among the club's directors. "The Glazers have a very high regard of David Gill," an advisor to the Glazers told The Guardian. "They hope and expect that Gill will continue to do the job he has been doing. "One of the reasons they want to buy Manchester United is that it is the best managed football club in England." But Randall was less sure. "From the moment he has effective control, which could take five or six weeks, chairman Sir Roy Gardner is definitely out with chief executive David Gill almost certainly out as well. "They opposed Glazer. Why does he need them anyway? He is coming in and saying: 'I can run this business better than you'."

Southampton 1-2 Man Utd
Southampton's 27-year stay in the top flight of English football ended when they lost to Manchester United and were relegated from the Premiership. Saints had started so well, a Graeme Le Saux corner bundled in via the thigh of Man Utd defender John O'Shea. But United responded quickly and O'Shea crossed for Darren Fletcher to head in. Ruud van Nistelrooy pounced to nod home an Alan Smith cross to put Man Utd ahead and results elsewhere ensured the Saints finished bottom of the division. It was heartbreak for the Saints faithful who must now watch their side play in the second tier for the first time since 1978. Saints boss Harry Redknapp picked a brave team for such a monumental game, bringing back David Prutton after a 10-match ban and replacing the banned Peter Crouch with Brett Ormerod, leaving Kevin Phillips on the bench. And his side understandably looked nervous from the start, Wayne Rooney's shot being deflected wide before Mikael Silvestre headed over from the resulting corner. But the hosts, veterans of the last-day survival escape, got themselves in front with their first attack of the game. Henri Camara won a corner on the right that Le Saux swung in to the area and with Nigel Quashie lurking the ball went in inadvertently off O'Shea. The game was being played at a ferocious tempo and Saints could have grabbed another when Silvestre somehow stopped Ormerod getting on the end of a Jamie Redknapp cross. But United always looked dangerous and they got their equaliser when O'Shea made amends for his own goal, crossing for Fletcher to impressively head home. As play switched from end to end Van Nistelrooy saw his shot cleared off the line before Ormerod headed over from six yards. The pace slowed down as the half wore on but Saints fans had plenty to cheer as news filtered through that rivals Crystal Palace and Norwich were both losing. The hosts knew that a goal in one of the other games could plunge them back into the mire, but they had enough on their hands coping with a determined Man Utd side. But inside 60 seconds, the carnival atmosphere inside St Mary's turned into deathly silence. Crystal Palace equalised against Charlton, West Brom went 1-0 up against Portsmouth and the Saints fell behind, a killer goal from Van Nistelrooy. Smith bustled his way into space down the right and his deflected cross evaded Antti Niemi and fell for the Dutchman to nod home. With West Brom winning, Southampton knew they needed to score twice to stay up and they never looked like producing the required miracle. -------------------------------------------------------------------------------- Southampton: Niemi, Telfer, Lundekvam, Higginbotham, Bernard (Davenport 78), Prutton (Phillips 71), Redknapp, Quashie, Le Saux (Delap 71), Camara, Ormerod. Subs Not Used: Smith, Oakley. Booked: Lundekvam. Goals: O'Shea 10 og. Man Utd: Carroll, O'Shea, Brown, Ferdinand, Silvestre, Fortune, Fletcher, Giggs, Smith, Rooney (Saha 74), van Nistelrooy (Phil Neville 87). Subs Not Used: Kleberson, Keane, Ricardo. Booked: Brown, Silvestre. Goals: Fletcher 19, van Nistelrooy 63. Att: 32,066. Ref: S Bennett (Kent).

Ferguson praises professionalism
Manchester United manager Sir Alex Ferguson praised his side for their professionalism after a 2-1 win away at Southampton relegated the Saints. "I thought it was a very long day, the game seemed to last forever simply because of what it meant," he said. "It's one of those games you'd rather not have, but you've got to do your best because your reputation and pride have a lot to answer for. "I was pleased with our quality but it was difficult as they fought hard." Ferguson paid tribute to Saints boss Harry Redknapp and assistant Jim Smith and backed them to win promotion from the Championship. "It's not easy for players on a day like today, especially their players, but even for ours when we know they are fighting for their careers some of them," he added. "Harry and Jim are great pros, maybe they just came to Southampton and the wrong time when they were on their way down. "But they've got great experience and they will bring them back up." The game was Man Utd's last before Saturday's FA Cup final and Ferguson thinks it was a good preparation ahead of the game against Arsenal in Cardiff. "It's done us no harm before what is a massive game. Everyone is available who we want to be except Gabriel Heinze, who we're hoping will train on Monday or Tuesday. "We've got options but we won't make a decision until maybe Thursday because he's been one of our star players."

Real deny Ferdinand transfer move
Real Madrid have insisted they are not interested in signing Rio Ferdinand from Manchester United. The Spanish giants issued a statement following reports in the English press claiming Ferdinand was a target. "Real Madrid have written to Manchester United denying they have any interest in signing Rio Ferdinand or any other player from the English club." Ferdinand has yet to sign a new contract at United, and reportedly wants more than £100,000-a-week.

Man Utd/Lyn go to Fifa in Obi row
Manchester United and Norwegian club Lyn Oslo have lodged a complaint with Fifa over Chelsea's pursuit of Nigerian teenage prodigy John Mikel Obi. Mikel Obi has claimed he was forced to sign a contract with United from Lyn. "Lyn and Manchester United have sent in a complaint on Chelsea and the two agents, John Shittu and Rune Hauge, to Fifa," said Lyn's lawyer Erik Nadheim. United announced the 18-year-old midfielder's £4m transfer on 29 April after he scored twice on his Lyn debut. Hauge has said first division Lyn do not have the right to sell Mikel Obi. The 18-year-old midfielder, who Lyn believe is in England, has been quoted in Norwegian media as saying he wants to join Chelsea. Lyn said they have a valid contract with Mikel Obi, which runs until the end of 2006, and that he is in breach of that contract after missing training on 12 May and a match four days later. "The only thing that Lyn wants is that Mikel comes back to Norway," added Nadheim.

Ferguson issues Cup plea to fans
Manchester United boss Sir Alex Ferguson has urged the club's disgruntled fans not to disrupt the FA Cup final against Arsenal on Saturday. There are fears United fans may hold demonstrations at the Cardiff showpiece in protest at Malcom Glazer's takeover. "The supporters and players should be together in their attempts to win this match on Saturday," said Ferguson. "Our focus has to be 100% on the final. Nothing else matters and I am sure they will not let us down." American tycoon Glazer has bought up a 75.7% controlling interest in United and Ferguson preferred to talk about football matters rather than his thoughts on off-the-pitch events. He added: "This is not the time to be answering questions about Malcolm Glazer's takeover of the club. "Ever since I became manager of Manchester United, my main concern has always been the team. "Our focus has to be 100% on the final this week, otherwise we will not be doing our jobs properly. "For us, everything is geared to Saturday, all the rest is peripheral."

View Full Version: Manchester Utd