US sports tycoon Malcolm Glazer formally launched his ?790.3million takeover bid for Manchester United today after winning the support of its biggest investor. A statement from 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 Glazer has control of the club with a 56.9% stake, but he needs more than 75% of shares for the offer to go unconditional. He will now make an offer for the remaining shares. It comes a fortnight after the board of Manchester United said it would not be recommending the takeover proposal to investors because Glazer's business plan appeared 'aggressive'. Mr Glazer clinched the deal with the Cubic Expression vehicle of McManus and Magnier less than a week before a deadline set by the Takeover Panel for a formal offer was due to expire. It also takes place as Manchester United prepare for the FA Cup Final after missing out on the Premiership. Glazer first expressed an interest in acquiring the club last autumn and tabled a formal proposal in October, which was knocked back by the board after talks. Manchester United - led by chief executive David Gill - is worried that a takeover by Glazer would leave the company saddled with too much debt. In a statement on April 28, the club said the price indicated by Glazer was fair but it believed the proposals would put 'significant financial strain' on the business. United supporters have fiercely opposed the takeover bid and formed a shareholders' association to buy club shares and try to thwart Glazer's takeover ambitions. Glazer owns the Tampa Bay Buccaneers gridiron franchise and is thought to be keen on marketing the Manchester United brand more aggressively in the United States. Richard Hunter, of Hargreaves Lansdown stockbrokers, said: 'I think it's pretty much game over now as the key to all this was always going to surround what the Irish duo would do with their stake.' Manchester United issued a statement noting the announcement and said it was waiting for formal terms of the offer from Glazer to be published. It said: 'A further announcement will be made once the board has reviewed that announcement.' Glazer paid ?227.2 million for the stake held by the Irishmen and it is thought the pair have made a ?70 million profit on their original investment. If the US sports tycoon secures more than 75% of shares, he can take Manchester United private and de-list it from the London Stock Exchange. Gaining the support of investors owning more than 90% of the club would allow him to make a compulsory purchase and vacuum up the remaining shares. But this could prove difficult as the supporters own 18% of Manchester United and are unlikely to be willing to sell up.

Wow can you fucking believe this. The Irish duo selling out to Glazer who now owns the biggest football club in the world. The world is truly coming to an end. :roll:

Re: Man U sold to an American!

Get ready for the Manchester Buccaneers!

Re: Man U sold to an American!

[quote=skahound]Get ready for the Manchester Buccaneers![/quote]

:lol: haha LOL

Re: Man U sold to an American!

good for them. I hate ManU and an American owning them could only screw things up! :twisted:

Re: Man U sold to an American!

[quote=rubyraks]good for them. I hate ManU and an American owning them could only screw things up! :twisted:[/quote]

i second that :lol:

Re: Man U sold to an American!

Honestly, I don't think it will screw anything up. The fans might be pissed, but it's not going to stop them from going to the Man U games and cheering for their team.

Re: Man U sold to an American!

[quote=Localizer]Honestly, I don't think it will screw anything up. The fans might be pissed, but it's not going to stop them from going to the Man U games and cheering for their team.[/quote]

Your fucking kidding right? Were the fans happy when glazier hiked Tampas tickect prices?

I hate Utd, but I don't wish this on them. Some fat amercian asset stripping on of the best clubs in europe, bollocks.

It's bad for Man Utd and bad for English football.

Re: Man U sold to an American!

[quote=Morgan] Were the fans happy when glazier hiked Tampas tickect prices? [/quote] Actually Bucs tickets are very comparable and even on the low end in some cases compared to other teams.

Re: Man U sold to an American!

I hope he :Anal: them, cripples them with debt and then fucks off :Gotcha:

All non-Manure fans owe those two Irish guys a beer or two. :P :mrgreen:

Re: Man U sold to an American!

[quote=skahound][quote=Morgan] Were the fans happy when glazier hiked Tampas tickect prices? [/quote] Actually Bucs tickets are very comparable and even on the low end in some cases compared to other teams.[/quote]

The prices still went up though.

Re: Man U sold to an American!

"

Manchester United fans are furious that US tycoon Malcolm Glazer has launched a formal takeover bid for the club. Glazer has a 62% 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."

Fans have begun to gather around Old Trafford, and some have marched around the ground with a huge "Not For Sale" banner.

There has also a "sit-down" protest with fans blocking a main road next to Old Trafford - while others have burned season-ticket renewal forms 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".

Chelsea's Russian billionaire owner, Abramovich, has invested over ?200m on players since taking over, bankrolling the club to the Premiership title this season.

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, journalist Michael Crick - biographer of United manager Sir Alex Ferguson - 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."

MP Tony Lloyd, who represents Manchester Central and is also a Manchester United shareholder, told Five Live:

"I'm a very modest shareholder, I wish I had more so that I could do my best to block what I think is an unwelcome bid.

"I think most football supporters in this country will see this as being an undesirable move because it's not in the interests of the game of football."

Jules Spencer, chairman of the Independent Manchester United Supporters Association is ready to take radical action.

"If this is to be the end then we will go down kicking and screaming," he said.

"If Glazer does get control, then we will up sticks and form a new club which will continue the traditions and heritage and the legacy of 125 years of Manchester United.

"We don't want Malcolm Glazer, we want a club run for the fans - and that is what we will do."

"

from [url=http://news.bbc.co.uk/sport1/hi/football/teams/m/man_utd/4541093.stm]bbc[/url]

Re: Man U sold to an American!

this has been in the works for months. not really news.

Re: Man U sold to an American!

Thank fuck, now the blue half will be the biggest club in Manchester and Pearce is the man to lead us there!!!!!!!!!

BLUE MOON all the way baby :D 8) :D 8) :D 8) :D 8)

Re: Man U sold to an American!

It seems that there's not a lot of love lost for Man U - I suppose its the way that they treat everyone else with contempt.

They've had the advantages of being a Plc ... now they are beginning to see the other side.

Live like a Plc .. die like a plc.

Re: Man U sold to an American!

fuck manu and all the corporationeeee shit

Re: Man U sold to an American!

the fans are the ones that will run the club into the ground, not the tycoon. If it's a Russian, than it's ok, but if it's an American, it's not....but wait, don't Russians love hockey? so then wtf....The fans need to stop thinking that they're sport is being contaminated by American scum and look towards the future in how the tycoon could actually help. With each club competing to pay for the best players, they need someone to fuck them in the ass first to get hot and fresh players.

Re: Man U sold to an American!

^^ I agree mate. I think they are pissed that someone with no real interest in or attachment to the sport is buying it just for $$$, and trying to use future earnings of the club to finance his purchase. But as much as people were pissed about Roman buying Chelski, look at where they are now. Give it a couple of years, and no one will care.

But also, look at how he is running the Bucs.. he begged the community to help pay for a stadium or her would have to move the team, but he had enough $$ to do it him self. When they won the Super Bowl, this idiot belted out, the Tampa Bucaneers are champions.. it is the Tampa BAY Bucs you tosser. lol

Then when he is supposed to bidding for "his" stadium to host the Super bowl, he is no where to be found, most likely was out trying to buy Man U at the time.

so there are more variables than the fact he is a Yank buying the club. but at the end of the day, if his money brings more silver ware to Old Trafford, I dont think any one will care who bought the club.

Re: Man U sold to an American!

my favorite team is the san diego chargers...though i dont live in california. has been since i was 6.

theyre owned by the biggest contributor to the republican party west of the mississippi, the spanos'. i cant stand bush or anything the republican party stands for. theyre ruining this country and ruining all foreign realtions.

its a major fly in the ointment for me but i dont stop being a massive Chargers fan because of it.....

Re: Man U sold to an American!

as long as they stay the hell outta manhatten i couldnt care less.

Re: Man U sold to an American!

For all Man U fans out there

To make you feel better.....a message from your new messiah

extract from Glazer's welcome letter to the man united fans:

Dear Soccer fans,

As you all know, i've been looking to buy the United's of Manchester for a little while now. I've also heard that some of you may not be too happy about me using, sorry, buying the club in order to reach new heights and also, that I may not be a fan. Well fear not, as i'm writing this personal letter to let you know that i'm a genuine fan of you blue devils.

I began rooting for the United's back in 1992 when our little Malcolm JR was practising those Soccer home runs out in the yard. I loved the way you turned defence into offence, and the way that Bobby Shearer used to top half it into the goal bag. Oh man, that play was hot. My son tells me that you even out-zoned your City rivals Southampton in the 4th quarter of the FA World series. As for your current team, that Rude guy is awesome!!!! I see a profitable future at the United, with the young talent of Cristiano Rooney (man, that guy can dance!) and Peter Shilton giving us hope in defeating the evil Russian tyranny which assaults the freedom of our beloved Soccer. With the marketing potential of those Neville brothers and that Pearce dude leading the team, we can all look to acheiving our beliefs of a better future. Especially when I add Alexei Lalas and Cobi Jones to the starting 15.

Now to you, the fans.

I've been to see the United's play once before, and the respect you pay your team in silently admiring the play out on the pitch was overwhelming. Because of this, i've just purchased a new GBP45 million mansion in the Manchester to be close to you guys. And more good news is i'm planning to add an extra 10,000 seats through corporate boxes so more genuine blue devils can experience the play. What's with the prawn sandwiches I had to eat when I was there? Well, rest assured, it'll be super size prawn baguettes when I take charge. I can't wait to come over to the Manchester isles, as I love the country, especially the beaches and the hot chicks. I hope you can all see my vision of this future, with new shirt sponsors (Dunkin Donuts) and new team name (The Manchester Gloom) i'm sure things are looking bright.

*Further good news for you guys is that i've just agreed a partnership deal with McDonalds, who will help in promoting the Manchester brand.This will involve re-naming the stadium to 'McTrafford' as well as an exciting launch of Manchester Gloom plastic fan toys in every happy meal. Cristiano Rooney will be the face of this campaign and during this, he will be marketed globally as Roonald McDonald.

Take care dudes. Regards

Malcolm

:lol:

Re: Man U sold to an American!

:CrackUp: That's some funny stuff there. I especially laughed my ass off at this part...[quote=wonk]*Further good news for you guys is that i've just agreed a partnership deal with McDonalds, who will help in promoting the Manchester brand.This will involve re-naming the stadium to 'McTrafford' as well as an exciting launch of Manchester Gloom plastic fan toys in every happy meal. Cristiano Rooney will be the face of this campaign and during this, he will be marketed globally as Roonald McDonald. [/quote]

Re: Man U sold to an American!

Apparently the daily interest payments on the ?250-300m of debt that Glazer is placing Manc U in is ?127,000 a day .... ouch !

Re: Man U sold to an American!

It's sad day for Football, lookout everyone.